By Clarence Leong


A winding-up petition has been filed against embattled property developer China Evergrande Group in Hong Kong.

The petition dated June 24 was filed by Top Shine Global Limited of Intershore Consult (Samoa) Ltd. with the High Court in Hong Kong, in connection with a financial obligation in the amount of 862.5 million Hong Kong dollars (US$109.9 million), China Evergrande said in a filing Tuesday.

China Evergrande said it will oppose the petition vigorously, and it doesn't expect its restructuring plans or timetable to be affected.

The heavily indebted developer said last week that it aims to announce a preliminary restructuring plan by the end of July. It added that it has been communicating with creditors to push forward with its offshore debt restructuring plan.

The property giant had amassed around US$300 billion in liabilities as of last June, including around US$20 billion in outstanding U.S. dollar bonds.


Write to Clarence Leong at clarence.leong@wsj.com


(END) Dow Jones Newswires

06-27-22 2058ET