Country Garden Holdings said a liquidation petition has been filed against it.
- Over non-payment of a $205 million loan
- Country Garden said it would "resolutely" oppose the petition, which was filed by a creditor, Ever Credit Limited
- ourt hearing set for May 17
There is probably plenty more of this to come. Homebuyers and creditors remain concerned about the Chinese property sector's debt crisis. Despite Chinese authorities ramping up efforts to boost confidence. A string of developers have defaulted on repayment obligations.
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Chinese equity markets are hanging in there:
