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
![](https://static01.nyt.com/images/2023/10/19/multimedia/19Country-Garden-lzvm/19Country-Garden-lzvm-facebookJumbo.jpg)