HONG KONG: The judiciary’s website showed that a winding-up petition has been filed against the China Evergrande Group at the high court in Hong Kong.
According to the website, the petition filed against the embattled property developer was made by “Top Shine Global Limited of Intershore Consult (Samoa) Limited”, the hearing will be held on Aug 31.
China Evergrande Group did not immediately respond to a request for comment on the petition.
China Evergrande Group is expected to announce a preliminary restructuring plan before the end of July.
A lender for Evergrande‘s development (U.S. asset manager Oaktree Capital Management) of the land plot in the rural Yuen Long district of Hong Kong, sought early this year to seize control of the land by appointing a receiver.
At the time of appointment of receiver and potential sale of relevant secured assets China Evergrande Group said “would not have a material impact on the operations or financial position of the group, nor affect the group’s ongoing debt restructuring exercise”.
According to a person with knowledge of the matter, the developer would continue efforts to sell the undeveloped land even after appointing a receiver.
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