Courts in Macau are auctioning off some 36 properties from former Suncity junket head Alvin Chau to repay his debt of $810 million.
According to notifications on the court’s website, assets under Alvin Chau and a linked company entitled “Tai Tak Lei” were ordered to auction their assets worth nearly $74 million (MOP 592 million), which includes 31 car parking spaces and five commercial properties.
The car parking spaces were put up for auction at a starting price of up to MOP1,184,500 ($147,000) each. And the commercial properties’ starting price stands between MOP55 million ($7 million) to MOP177 million ($22 million).
The proposal is open to the public, and the court sets a deadline of September 11th. The court’s note also shows that the name of the creditor is “U Lai Wan”.
He was sentenced to 18 years in jail this January after he was found guilty of 162 charges, including enabling and operating illegal gaming.