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Updated: Aug 01, 2022, 05:45 PM IST

China Real Estate Crisis Chinese developer Evergrandes unit ordered to pay out 11 billion

Struggling developer China Evergrande Group said on Sunday (Jul 31) that one of its subsidiaries, Evergrande Group (Nanchang) Co, Ltd, had been ordered to pay a guarantor 7.3 billion yuan (US$1.08 billion) for failing to honour its debt obligations.

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Struggling developer China Evergrande Group said on Sunday (Jul 31) that one of its subsidiaries, Evergrande Group (Nanchang) Co, Ltd, had been ordered to pay a guarantor 7.3 billion yuan (US$1.08 billion) for failing to honour its debt obligations.

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