CHINA’S biggest private property developer Country Garden is facing a winding-up petition, which has been filed in Hong Kong by a creditor.
A firm called Ever Credit Ltd filed the case for non-payment of a loan worth US$204.5m. Country Garden, which defaulted on its overseas debt in October, says it will “resolutely oppose” the petition.
Last month, rival real estate giant China Evergrande was ordered to liquidate by a Hong Kong court. – bbc.com