Chinese billionaire Wang Jianlin's son resolves with creditors
Image Credit: shortpedia
Mr. Wang Sicong, the only son of the founder and chairman of Chinese conglomerate Dalian Wanda Group Company, finally came up to an agreement with creditors after local courts declared him a debtor and placed curbs on his dazzling lifestyle. The 31-year-old will compensate dozens of investors in his now-bankrupt entertainment firm and will shoulder a loss of almost 2 billion yuan (S$387 million).