Home Business Evergrande Group claims that the property preservation incident before the lawsuit with China Guangfa Bank has been resolved | Daily Economic News

Evergrande Group claims that the property preservation incident before the lawsuit with China Guangfa Bank has been resolved | Daily Economic News

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In the morning of July 22, Evergrande Group issued a statement on its official website stating that the property preservation incident before the lawsuit with China Guangfa Bank had been resolved.

The statement pointed out that China Guangfa Bank and Evergrande Group have maintained a good business relationship for a long time. Regarding the recent civil rulings on property preservation before litigation, the two parties have properly resolved the matter after full communication. The two parties will continue to consolidate and deepen their business cooperation relationship in the future, continue to strengthen cooperation, and achieve mutual benefit, win-win and common development.

On July 19, a civil ruling issued by the Intermediate People’s Court of Wuxi City, Jiangsu Province came out on the market, which showed that China Guangfa Bank Yixing Branch requested the freezing of bank deposits of Yixing City Hengyu Real Estate Co., Ltd. and Evergrande Real Estate Group Co., Ltd. of 132 million yuan. Or seize or seize other property of equal value.

Subsequently, the Evergrande Group issued a statement on its official website stating that the project company Yixing Hengyu Real Estate Co., Ltd., a subsidiary of the Jiangsu Provincial Company, and the China Guangfa Bank Yixing Sub-branch project loan 132 million expired on March 27, 2022. For Yixing branch’s abuse of pre-litigation preservation, our company will sue according to law.

This morning the reporter discovered that the above statement had been deleted on the official website of Evergrande.

Affected by related news, Evergrande’s stocks and bonds have seen plunges recently. As of the close on July 21, China Evergrande reported closing price of 7.24 Hong Kong dollars per share, a drop of 26.12% from the closing price on the 16th.

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