When a Chinese pork producer filed for bankruptcy in 2019, the news came as a jolt to Alan Hill. The retired Apple executive from Albuquerque had invested about $100,000 last decade in Dalian Chuming Meat Processing through a U.S.-listed holding company, Energroup Holdings. Chuming had not paid dividends for many years, but it supplied pork to Walmart and had been profitable at least as recently as 2016.
A decision by a Chinese court in Dalian to place Chuming into liquidation in 2021, a three-year process during which the company auctioned off assets and repaid debt, meant U.S. shareholders had to drop their pursuit of unpaid dividends.
For Hill, who turns 86 in May, the loss of his funds has been painful.
“I feel cheated,” he said. “I…
