Mary Wang denies to reveal who are the "friends & associates" Beleaguered business woman May Wang, who is currently fighting a suit for bankruptcy after her property and hotel empire Dynasty Group, has declined to name the "friends & associates" who are backing her up in paying back $1.35 million of the $22 million she owes to the creditors.

While informing about the sources of the fund mentioned in her proposal to creditors during a cross examination by IRD's lawyer Nick Malarao in Auckland Highcourt, Wang told that of the $1.35 million, $500,000 came from UBNZ as three year advance consultancy fee and the remaining is from friends and associates.

However, Wang refused make the names of the people backing her public. Her lawyer commented that the friends wish to remain anonymous.

Wang's case to ward off bankruptcy finally started in the court after the proposal of 6.5c per dollar was accepted by 10 of 13 creditors present in a meeting held on June 28.

Meanwhile, Wang, as the Director of UBNZ Funds Management, is leading one of the high voltage bids to buy 16 dairy firms on behalf of the fund house at present.