NEWS Desk Global
CHINA'S SHIMAO GROUP RECEIVES LIQUIDATION PETITION
China's Shimao Group said on Friday CPYM Link Investment Limited had filed a liquidation petition against the company in the Hong Kong high court regarding a 258 million yuan ($35.19 million) cross-border loan guarantee provided by the property developer.
The court has set the first hearing for the petition on March 19, 2025. This is the second case of such petitions against Chinese property developers in the last two days. On Thursday, a petition was filed against embattled property developer Sunac China to wind down by asset manager China Cinda Asset Management.
Comentarios