Jun 29, 2022 04:24 AM

BUSINESS

Evergrande Says HK Investor’s Lawsuit Won’t Affect Debt Restructuring Timetable

By Wei Yiyang and Denise Jia

Evergrande is grappling with more than $300 billion in liabilities and undergoing a debt restructuring.

Evergrande is grappling with more than $300 billion in liabilities and undergoing a debt restructuring.

An overseas-registered company reportedly owned by Hong Kong businessman Lin Ho Man is demanding the liquidation of heavily indebted China Evergrande Group, the Chinese developer disclosed Tuesday in a statement.

Top Shine Global Ltd. of Intershore Consult (Samoa) Ltd., a Samoan Islands-registered holding company, filed suit Friday in Hong Kong’s high court. The company asked the court to order the liquidation of Evergrande’s assets to honor a repurchase agreement signed last year as part of its fundraising for an online real estate and automobile marketplace, an unnamed Top Shine executive told Reuters.

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