HONG KONG : China Evergrande Group said on Sunday that recievers have been appointed for a plot of undeveloped land in Hong Kong's rural Yuen Long district, in the latest development to hit the debt-laden developer.
The assets are charged as security for a financing transaction for $520 million advanced to the group in January 2021, Evergrande said in a filing to the Hong Kong stock exchange. If there is residual value on the assets after the secured obligations have been discharged, Evergrande said it would give priority to offshore affairs.
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