China Evergrande says winding-up lawsuit won't impact restructuring

📆 6/28/2022 6:26 AM
📰 ChannelNewsAsia

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Hong Kong :China Evergrande Group, the world's most indebted property developer, on Tuesday said it will 'vigorously' oppose a winding-up lawsuit filed against it, and that the petition will not impact its restructuring plan or timetable.Evergrande confirmed the filing by investment holding firm Top Shine Glo

Hong Kong :China Evergrande Group, the world's most indebted property developer, on Tuesday said it will"vigorously" oppose a winding-up lawsuit filed against it, and that the petition will not impact its restructuring plan or timetable.

The developer has over $300 billion in liabilities and defaulted on its offshore debt last year. It expects to announce a preliminary restructuring plan by the end of July. In such a scenario, it said, any transfer of shares by shareholders or potential investors on or after June 24, when the petition was filed, would be void.

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China Evergrande faces winding-up lawsuit in Hong KongHONG KONG : A winding-up petition has been filed against embattled property developer China Evergrande Group at the Hong Kong high court, the judiciary's website showed.The petition was made by 'Top Shine Global Limited of Intershore Consult (Samoa) Limited', according to the website, and a hearing will b
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