Beijing | Country Garden, China’s largest real estate developer as recently as 2022, said on Wednesday that a creditor had asked a Hong Kong court to liquidate its operations and pay off lenders, in the latest sign that China’s housing crisis continues unabated.

Ever Credit, a Hong Kong lender, is petitioning the city’s High Court to shut down Country Garden. The court filing involves Country Garden’s failure to repay a loan of $US204 million ($313 million) plus interest owed to Ever Credit, the real estate developer told the Hong Kong sharemarket.