BEIJING: In China’s ongoing property crisis, large and highly indebted property developer Country Garden is to defend itself in court against an application for liquidation, reported German news agency (dpa). Country Garden confirmed in a stock exchange announcement on Wednesday morning that its creditor Ever Credit Limited has filed for a winding-up petition before a court in Hong Kong. The case concerns an unpaid loan totalling HK$1.6 billion (US$204 million) plus interest. According to Country Garden, the court set the first hearing for May 17.Country Garden follows on the heels of China Evergrande, the world’s most indebted property developer, which was ordered to be wound up by a Hong K
Hence then, the article about china s property firm country garden faces liquidation proceedings was published today ( ) and is available onDaily Sun ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details Finally We wish PressBee provided you with enough information of ( China’s property firm Country Garden faces liquidation proceedings )