The Czech branch of Chinese energy giant CEFC has added to its pile of troubles after failing to repay an 11.5 billion crown ($522 million) loan to Czech-Slovak investment group J&T.
CEFC’s much-lauded investment in the Czech Republic came to a swift end after its director, Ye Jianming, was taken away by communist authorities in China for economic crimes. The company’s assets have begun to be liquidated to repay its loans inside China and abroad.
