Evergrande faces winding-up lawsuit in Hong Kong, China
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. Evergrande’s offshore debt is regarded as being in default after late last year’s payment commitments were missed; the company is weighed down by liabilities totalling more than $300 billion. The petition was submitted by “Top Shine Global Limited of Intershore Consult (Samoa) Limited,” and a hearing will take place on August 31. Evergrande did not comment on the petition immediately. Evergrande’s offshore debt is regarded as being in default after late last year’s payment commitments were missed;…