New tile on real estate sector Chinese. Just as it had happened for Evergrande, also Country Garden, China's largest private real estate developer, said it is facing a liquidation claim over the failure to repay a loan worth 1,6 billion Hong Kong dollars (about $205 million), brought by a creditor. The company itself announced this in a note to the Hong Kong Stock Exchange where the stock lost over 12 percentage points. Country Garden, already in default, has debts of over $200 billion.
A end of January the Hong Kong court had put in Evergrande liquidation, the other Chinese real estate giant, swamped by more than $300 billion in debt. The decision had sanctioned the failure of the bailout plan pursued in recent years.
