Embattled Chinese Developer Country Garden Faces Winding-Up Petition menafn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from menafn.com Daily Mail and Mail on Sunday newspapers.
A Hong Kong-based creditor has filed a winding-up petition against struggling developer Country Garden, adding to a wave of legal action that threatens to increase liquidations across China’s property sector, reports the Financial Times. The petition, filed by a company called Ever Credit at Hong Kong’s High Court, cited non-payment of a HK$1.6 billion ($204 million) loan…
Country Garden Holdings Faces New Crisis as Creditor Seeks Liquidation The Chinese developer said Ever Credit Ltd. had filed the petition in relation to the nonpayment of a term loan of about.