Hong Kong Court dismisses 2024 petition to wind up Country Garden (updated)

Kingboard Holdings

16/02/2026 15:54

Adds details from paragraph 2 onwards

Feb 16 (Reuters) - Chinese property developer Country Garden 2007.HK said on Monday the Hong Kong High Court has dismissed the winding-up petition filed by Ever Credit against the property developer in 2024.

Ever Credit Ltd, a unit of Hong Kong-listed Kingboard Holdings 0148.HK, filed the petition in February 2024 against Country Garden for non-payment of a $205 million loan.

The petition was filed a month after the now delisted China Evergrande Group, once one of China's top-selling property developers, was ordered to be liquidated by a Hong Kong court in a blow to Beijing's efforts to restore confidence in China's property sector.

The court had previously adjourned the hearing on the winding-up petition at least five times since 2024.

The slump in China's property sector is now in its fifth year. The sector, which once made up a quarter of China's gross domestic product, has been hit by slowing demand, with homebuyer sentiment also hurt by developers' defaults.

 (Reporting by Sherin Sunny in Bengaluru; Editing by Jan Harvey and Susan Fenton)

 ((Sherin.Sunny@thomsonreuters.com;))