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Exclusive-In a first, Chinese developer's creditors plan to sue state-owned shareholder for dues

HONG KONG (Reuters) -A group of offshore creditors of China South City is set to file a lawsuit against the debt-laden developer's biggest state-owned shareholder for dues, four sources said, in what would be the first such case in the crisis-hit property sector. China South City earlier this month missed a principal payment of $11.25 million on a dollar bond due on Feb. 9, and is deemed by creditors to be in default on offshore debts worth $1.3 billion, two bondholder sources said. The group of creditors, who have formed a so-called ad-hoc group, is preparing to file the lawsuit in a Hong Kong court against state-owned Shenzhen SEZ Construction and Development Group Co., which owns 29% of the company, the four sources said.

In a first, Chinese developer's creditors plan to sue state-owned shareholder for dues

A group of offshore creditors of China South City are set to file a lawsuit against the debt-laden developer's biggest state-owned shareholder for dues, four sources said, in what would be the first...

Evergrande's fate hinges on recognition of China authorities

Any liquidation of property giant Evergrande hinges on Chinese authorities recognising the ruling of a Hong Kong court, in a decision that could also effect the city's standing as a global...

Evergrande's fate hangs on China's recognition of court ruling

Any liquidation of troubled property giant Evergrande depends on Chinese authorities' recognition of the Hong Kong court's ruling, in a decision...

Evergrande's fate hinges on recognition of China authori

China Evergrande Liquidation: Stakeholders in Their Own Words

China property crisis: R5 trillion in debt Evergrande to be liquidated

China's Evergrande heads to liquidation in a milestone for property crisis

Liquidation will be a test case of legal reach of Hong Kong courts in China

Crisis-Hit Evergrande, Owing Over $300 Billion, Heads To Liquidation

China Evergrande Group received a liquidation order from a Hong Kong court, setting off what's likely to be a daunting process to carve up one of the biggest victims of a years-long and nationwide property debt crisis.

Hong Kong's High Court places Evergrande into liquidation

International investors will be closely watching if the liquidators have any power over the enforcement of assets in China of the troubled property group.