Fri 02/17/2023 02:54 AM
Country Garden Holdings has told certain investors that a recent asset freezing order issued by a local court in eastern China’s Shandong province was due to dividend distribution disputes with a joint venture partner, according to two sources familiar with the matter. Country Garden has subsequently settled with the partner, the sources added.
The JV partner, Rizhao Jinshan Real Estate Co., filed an asset preservation application to the court requesting freezing RMB 72 million ($10.548...
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