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Chinese developer Country Garden said on Wednesday a liquidation petition has been filed against it for non-payment of a $205 million loan, clouding its debt revamp prospects and undermining ...
“Country Garden was once considered a safe name, even as peers like Evergrande and Sunac China went bankrupt around them. Its default shows there really aren’t any safe names in this sector ...
Country Garden’s troubles are reminiscent of those of Evergrande, a once mighty Chinese developer that defaulted in 2021. Evergrande filed for bankruptcy in the United States in August, after ...
Chinese property developer Country Garden, which defaulted on its debt last year, says it has received a liquidation petition from a creditor after not repaying a loan.
Country Garden shares slumped over ten per cent to HK$0.75 on the day of the statement. One of its US dollar bonds fetched about 7 cents on the dollar on the day, according to Bloomberg data. [ 92 ] Company filings showed that, in the twelve months leading to September 2023, contracted monthly sales measured in billions of yuan had dropped from ...
On 17 August 2023, Evergrande filed for Chapter 15 of the U.S. bankruptcy code for protection from creditors, with the U.S. bankruptcy court in Manhattan. [18] On 28 August 2023, Evergrande stock plunged in Hong Kong as trading resumed after a 17-month suspension, tumbling by 79 per cent to 35 HK cents, as opposed to the pre-suspension price of ...
Country Garden warned Wednesday that it could default on its vast debts as it reported a loss of 51.5 billion yuan ($7 billion) for the first six months of the year.
Country Garden (Chinese: 碧桂园; pinyin: Bìguìyuán; Jyutping: bik1 gwai3 jyun4) is a property development company based in Guangdong, China, owned by Yang Guoqiang's family. It ranked 206th in Fortune Global 500 list of 2023. [ 1 ]