May Wang, the businesswoman, who is a front person for UBNZ Funds Management, a group of Chinese investors for buying 16 Crafar family farms worth $1.5 billion has been taken to the court for not paying her debts.

The Dynasty Group belonged to the Wang has been collapsed, her property and hotel business has failed and now she is appearing in the courts time and again for her proceedings against bankruptcy. Last month, Wang appeared in the court to offer its creditors payment of 6c in the dollar.

Wang has been charged with not maintaining proper books and records, not providing information to the liquidator and leaving New Zealand without advising the liquidator.

She has to pay a debt amounting to $22 million, on account of the failure of its Dynasty Group. Earlier, the offer was made worth of $500,000 - about 2.5c in dollar, which was raised to $1.3m or 6c in dollar. But, she cautioned the creditors that if Westpac owed $620,000, then they might not get anything.

The offer was declined by Rob Hacker, for creditor Latitude Asia Ltd. and Inland Revenue Lawyer Jessica Blythe in the Auckland Court on July 27.

Hacker stated that the amount of debt with Latitude Asia Ltd is much more than she stated, i.e. around $2,558,400. Also, Blythe expressed that she would need four to six weeks to prepare Wang’s case.

Wang will reappear in court in November for a two-day hearing to resolve the issue of debts.