HONG KONG -- Ever Credit, an offshore creditor of Country Garden Holdings, has filed a petition to wind up the Chinese property developer, a move indicative of the ongoing property crisis in China.
China debt crunch
Offshore creditor files petition to wind up Country Garden
Distressed mainland Chinese developer calls the move 'radical'
Country Garden's Hong Kong-listed shares dropped over 10% during early morning trading on Feb. 28. © Reuters
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