Country Garden Holdings in Crosshairs as Winding-Up Petition Filed by Ever Credit Ltd.

Wednesday, 28 February 2024, 01:26

Country Garden Holdings, a leading Chinese developer, is currently in hot water as Ever Credit Ltd. files a winding-up petition in Hong Kong over a term loan default totaling $204.5 million and accrued interest. This legal action raises concerns about the financial stability of Country Garden Holdings and its potential impact on the real estate sector in China.
LivaRava Finance Meta Image
Country Garden Holdings in Crosshairs as Winding-Up Petition Filed by Ever Credit Ltd.

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

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


Related posts


Newsletter

Get the most reliable and up-to-date financial news with our curated selections. Subscribe to our newsletter for convenient access and enhance your analytical work effortlessly.

Subscribe