Country Garden Holdings has said a liquidation petition has been filed against the property developer for non-payment of a loan worth $205m, adding to the woes for China’s liquidity crisis-hit property sector.
Country Garden said in a regulatory filing to the Hong Kong Stock Exchange it would “resolutely” oppose the petition, which was filed by a creditor, Ever Credit Limited, a unit of Kingboard Holdings. A court hearing has been set for 17 May.
China Policy Research 