China’s real estate developer, Evergrande Group of China, said in a report on the 30th that creditors have moved to seize a development site in Yuen Long District, Hong Kong. In January 2021, the company used the land owned by its subsidiary as collateral for a loan worth 520 million dollars (about 60 billion yen).
Evergrande states that the possibility of selling assets will not have a significant impact on its business, financial condition or debt restructuring.
Headquarters of Evergrande Group in China
Photographer: Gilles Sabrie/Bloomberg
The company is seeking legal advice and is in active consultation with creditors. However, the name of the creditor has not been disclosed.
The Financial Times (FT) earlier reported that US investment firm Oaktree Capital had seized its real estate assets in Hong Kong following a huge default.
原題：Evergrande Says Creditors Have Moved to Seize Hong Kong Plot（抜粋）