Country Garden Holdings in Crosshairs as Winding-Up Petition Filed by Ever Credit Ltd.
Wednesday, 28 February 2024, 01:26
Country Garden Holdings Faces Winding-Up Petition
The Chinese developer faces a winding-up petition from Ever Credit Ltd. in Hong Kong.
Reason for Petition
Nonpayment of a Term Loan
Country Garden Holdings failed to pay a term loan of approximately $204.5 million and interest.
Consequences
Legal Action
The filing of the winding-up petition raises concerns about the financial stability of the company.
- Winding-Up Petition Filed by Ever Credit Ltd.
- Default Amounting to $204.5 million
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