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Business & Finance

China Evergrande faces winding-up lawsuit in Hong Kong

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By Reuters

HONG KONG: A winding-up petition has been filed against embattled property developer China Evergrande Group at the Hong Kong high court, the judiciary’s website showed.

The petition was made by “Top Shine Global Limited of Intershore Consult (Samoa) Limited”, according to the website, and a hearing will be held on Aug. 31.

Evergrande did not immediately respond to a request for comment on the petition.

China Evergrande sticks to restructuring plan target of before end-July

Reeling under more than $300 billion in liabilities, Evergrande’s offshore debt is deemed to be in default after missing payment obligations late last year.

The firm is expected to announce a preliminary restructuring plan by the end of July.

China Evergrande Group

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