(Yicai) Sept. 6 -- Wang Wenyin, the chairman of Amer International Group who is also known as the "World Copper King," is once again allowed to spend freely after a court removed a ban on lavish consumption.

The high-level consumption order against Wang has been lifted, Amer New Material, a listed arm of the Jiangsu province-based maker of copper and cable products, said in a statement yesterday. The move is not expected to have a big impact on the company.

Wang earned his royal nickname when the 55-year-old man said he owns copper reserves of around 30 million tons. But the billionaire who ranked 26th with his wife on the Hurun China Rich List with a combined net worth of CNY110 billion (USD15.1 billion) has not been able to live big lately.

On Aug. 31, a court in Shandong province issued an order to limit Wang's consumption, including taking planes and staying in star-rated hotels, because an affiliate of Amer International had failed to repay a debt of around CNY100 million (USD13.7 million) due to construction contract disputes, according to corporate information provider Qichacha.

Amer New Material said that it and its controlling shareholder Yiwei New Material, as well as indirect controlling shareholder Amer International, have not embezzled any funds, provided illegal guarantees, or carried out related-party transactions.

Amer International made the latest Fortune Global 500 list last month, ranking 124th. Its revenue tallied USD90.5 billion.

Editor: Emmi Laine