China Evergrande's founder Hui Ka Yan has become the target of the developer's liquidators for not disclosing his assets. The high-profile case is now entering a critical phase, with a hearing scheduled in September.

Liquidators of China Evergrande Group said on Tuesday they have sold about $255 million of its assets 18 months into China's largest debt liquidation process and taken control of more than 100 of the company's subsidiaries.