Property News · July 22, 2021

Evergrande resolves debt dispute with Guangfa Bank after Hong Kong lenders withdrew mortgage loans to its apartment buyers


Heavily indebted developer China Evergrande said on Thursday that it resolved a dispute with a bank creditor that led to 132 million yuan (US$20 million) in its assets being frozen this month.The Shenzhen-based company said it maintained a “cooperative relationship” with China Guangfa Bank and had resolved its dispute with the bank following additional communication.“The two parties will continue to consolidate and deepen their business relationship in the future,” Evergrande said in a…

Source : South China Morning Post
Read more…Evergrande resolves debt dispute with Guangfa Bank after Hong Kong lenders withdrew mortgage loans to its apartment buyers