China Evergrande is opposing the winding-up petition filed against it by investment holding firm Top Shine Global Ltd in Hong Kong.
Top Shine citing Evergrande not fulfilling a financial obligation of HK$862.5 million ($109.91 million). Top Shine filed the petition saying the embattled property developer had not obliged to a deal to repurchase shares it bought in FCB (Top Shine in March last year bought 0.46% of FCB, a Chinese online real estate and automobile marketplace, for HK$750 million.)
Info comes via Reuters, more on this saga at the link.
