Guangzhou R&F Properties is the latest Chinese property developer facing a liquidation suit filed by creditors.
The cash-strapped R&F said on Tuesday its unit Trillion Glory had received a winding-up petition from a Singapore-based private equity fund due to non-repayment of a loan.
The petition was filed on Monday at a Hong Kong Court by Seatown Private Credit Master Fund, which holds an 18% interest in the total outstanding loan amounting to $613.66 million.
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Last month, state-backed Sino-Ocean Group said it was facing a winding up petition from The Bank of New York Mellon and China Evergrande Group was ordered to liquidate earlier this year.
R&F said in a filing that…
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