Banks pursue Luckin Coffee chairman's assets after loan default
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HONG KONG (Reuters) - The banks that lent $518 million(423.62 million pounds) to Luckin Coffee Chairman Charles Zhengyao Lu have started court proceedings to liquidate his private company, a government gazette for the British Virgin Islands showed.The notice, published on Thursday and reproduced in Hong Kong media on Friday, names Credit Suisse as the security agent, which means it will act on behalf of the banks behind the loan. A court hearing will be held on the island of Tortola on June..