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Published 2 months ago

China’s Country Garden gets liquidation petition from creditor

  • Country Garden Holdings received a liquidation petition from Ever Credit Limited, raising concerns about China's property sector.
  • The petition involves the failure to repay a term loan facility worth HK$1.6 billion, with a court hearing set for May 17.
  • The real estate downturn in China since 2021 has led to liquidity crises, defaults on debt, and concerns for major developers.
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