A former director of property investor Pearl Oriental Holdings - now renamed the Sun's Group - is being sued over an outstanding loan plus interest amounting to $300 million. Money lender Margaux Finance has filed a High Court writ against Wong Yuk-kwan, ex-director of both Pearl Oriental Holdings and Pearl International Hotels, and Edwin Yuen Hon-ming, ex-director of the latter company. The company is demanding repayment of the outstanding loan of $187,099,450 and $112,987,903 in interest under the loan agreement on April 11, 1995. Both the defendants were also former directors of Margaux Finance. The writ said under an agreement dated August 25, 1994, Mr Wong - as one of the directors of Rich Lord International - agreed to buy the Pearl Seaview Hotel in Shanghai Street with a facility of $850 million from China Joy Investments. Mr Yuen was said to have signed as a witness. Rich Lord borrowed $425 million to finance the purchase of the property, the writ said. It was claimed Rich Lord, which operated at a loss of more than $31 million between February 1994 and December 1995, failed to repay the instalment by April 1997. The company also only paid part of the interest. The property was sold in November 2000 to Charter Joy at $238 million to partially offset the debts owing. The writ said the two defendants had breached their fiduciary duties as directors by failing to take adequate steps to safeguard the interests of the plaintiff.