Reported 2 months ago
An investor has submitted a petition to liquidate a major unit of China Evergrande Group, citing a 200 million yuan ($27.9 million) investment dispute with Guangzhou Kailong Real Estate. The petition is currently being reviewed by a court in Guangzhou. Despite this, Evergrande assures that the bankruptcy of Kailong would not disrupt its primary operations or the delivery of homes by Hengda Real Estate, its main property entity.
Source: YAHOO