Investor says files liquidation petition in China against Evergrande unit

China Evergrande New Energy Vehicle

07/08/2024 07:35

HONG KONG, Aug 7 (Reuters) - An investor has filed a
petition to a court in China to liquidate a major unit of the
heavily indebted property developer China Evergrande  3333.HK ,
according to a stock filing by the petitioner on Wednesday.
    The investor -- Vanward  002543.SS , a Shenzhen-listed
electric appliance manufacturer -- cited a dispute with the
Evergrande unit Guangzhou Kailong Real Estate over an investment
worth 200 million yuan ($27.9 million).
    A court in the southern Chinese city of Guangzhou is
reviewing the case, the filing said.
    In January, a Hong Kong court ordered that Evergrande, once
China's largest property developer, should be liquidated after
it failed to deliver a concrete restructuring plan for $23
billion in offshore debt. Overall, Evergrande has more than $300
billion in liabilities.

 (Reporting by Xie Yu; Editing by Neil Fullick)
 ((Yu.Xie@thomsonreuters.com;))