The owner of celebrity-frequented Wentworth golf club is suing its former head of international operations over 32,000 missing bottles of wine worth £4.8m.
Chinese company Reignwood has accused billionaire Ni Songhua of refusing "to provide an account of his stewardship of the wine", according to the Sunday Times.
Ni told the newspaper the wine was used for entertainments and gifts and that the claim was "without merit".
Reignwood and Wentworth have been approached for comment.
In March last year the Financial Times reported that Ni was suing Reignwood's owner Chanchai Ruayrungruang for allegedly going back on a series of pledges to reward him for buying the group's overseas assets.
Reignwood bought Wentworth golf club in September 2014 and invested £20m in its facilities.
It caused a stir when it attempted to hike the price of fees two years ago, prompting accusations from former TV presenter Sir Michael Parkinson that the new owners were ignoring tradition in favour of the "super rich".