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This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
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This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
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A China Evergrande Group unit in mainland China has become the target of a liquidation petition, as creditors step up efforts to recover assets from the fallen property giant, Bloomberg News reported. The petition was filed against Guangzhou Kailong Real Estate by Guangdong Vanward New Electric Co. to a court in southern Guangzhou city, according to a Shenzhen stock exchange filing late Wednesday. Fully owned by Evergrande, Kailong has a stake of around 60% in Hengda Real Estate, which is the developer’s main property operation onshore, an exchange filing shows.
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