Pacific Ports and two other companies have launched a civil suit against John Chan Boon-ning, the chairman of parent company Fairyoung Holdings, over $81.1 million he is alleged to have stolen. Pacific Ports, Fairyoung Port Investments and Both Win Ltd filed a writ against Chan in the High Court: 'For the wrongful conversion of cheques issued from the bank account of Fairyoung Port Investments at Dao Heng Bank and for converting the proceeds of those cheques.' The writ claims three cheques worth $5.9 million, $5.7 million and $70 million were issued by Chan for his own use. It also claims Angklong Ltd and Kian An Realty Ltd helped Chan 'in the conversion of those cheques'. Angklong is a trust wholly owned by Chan, and Kian An Realty is a company owned by his late father, Chan Kee-hwa. Fairyoung Port Investments, Pacific Ports and Both Win filed for damages, interest for 'breach of fiduciary duties owed by Chan to the three companies', and costs. Chan was arrested on March 2 and appeared in Eastern Magistracy two days later. He allegedly stole $81.1 million but no plea was taken on three theft counts. Despite the charge, Chan still serves as a Fairyoung Holdings director. He is not involved in management. He stepped down as chairman of Pacific Ports shortly after the arrest. The alleged fraud resulted this week in the sale of Fairyoung Holdings' 43 per cent stake in Pacific Ports to New World Infrastructure and a private company linked closely to Macau gambling magnate Stanley Ho Hung-sun for $412 million. It also triggered cash flow problems at Fairyoung as a bank creditor demanded the repayment of a $4.5 million loan without delay. Fairyoung had $340 million in liabilities on December 31 last year.