Posted 10/19/2023, 4:10:33 AM
Country Garden Denies Default Rumors Amid Missed Payments and Asset Sales
- Country Garden facing potential financial collapse, denies rumors executives fled China
- Missed $15 million interest payment, could be declared in default
- Unloading assets and selling shares to raise money for significant debt obligations
- Road to restructuring "likely to be long and bumpy" after missing payments
- Founder Yang Guoqiang and chairwoman Yang Huiyan "working normally in China" according to statement
