"Debt Woes: Country Garden Faces Liquidation Petition Amid China Property Crisis"
TL;DR Summary
Chinese property developer Country Garden, which defaulted on its debt last year, is now facing a liquidation petition from a creditor after failing to repay a loan. This comes amid a real estate crisis in China, with the collapse of rival firm Evergrande adding to concerns. Country Garden has stated it will vigorously oppose the petition, and a court hearing has been set for May 17. The ongoing real estate downturn in China has led to numerous major developers defaulting on their debt, prompting the central bank to take measures to address the crisis.
Topics:business#businessfinance#chinese-property-developer#country-garden#debt-default#liquidation-petition#real-estate-crisis
- Troubled Chinese property developer Country Garden faces liquidation petition CNN
- China’s Country Garden Faces Winding Up Petition In Hong Kong The New York Times
- Country Garden liquidation petition adds to China property woes Reuters
- China Developer Country Garden Gets Winding-Up Petition After Debt Crunch Bloomberg
- Country Garden: China property giant hit with winding-up petition BBC.com
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