Pedestrians walk past a branch of China CITIC Bank in Kunming city, southwest China's Yunnan province, 28 March 2016.
China CITIC Bank Corp Ltd has launched a Canadian lawsuit to try to seize the assets of a Chinese citizen the bank claims took out a multimillion-dollar loan in China then fled to Canada, the lender's Vancouver-based lawyer said on Monday (27 June 2016). The bank is looking to seize numerous Vancouver-area homes, valued at some $7.3-million, along with other assets, according to the lawsuit, which was filed in the Supreme Court of British Columbia in Vancouver on Friday. The defendant, Shibiao Yan, owns three multimillion-dollar properties in a Vancouver suburb and lives in a $3-million Vancouver home owned by his wife, according to court documents.Li ming—Imaginechina/AP