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Country Garden Holdings Co.’s debt disaster is coming into a brand new chapter as China’s extended property stoop deepens, after a Hong Kong court docket acquired a creditor’s petition to liquidate the corporate over non-payment of its debt.
The primary hearing date is scheduled for Might 17 at Hong Kong’s Excessive Courtroom, after Ever Credit score Ltd. filed its so-called winding-up petition dated Tuesday. Nation Backyard did not make funds on a time period mortgage facility of about HK$1.6 billion ($204 million), plus accrued curiosity, to the lender, in response to an change submitting.
