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China's Country Garden Says Might Not Meet All Debt Obligations
Debt-saddled Chinese property giant Country Garden said Tuesday that it did not expect to meet all of its offshore payment obligations in time as it battles to avoid default. In a filing with the Hong Kong Stock Exchange, the firm said it "expects that it will not be able to meet all of its offshore payment obligations when due or within the relevant grace periods". "Such non-payment may lead to relevant creditors of the Group demanding acceleration of payment of the relevant indebtedness owed to them or pursuing enforcement action," the firm warned. The property giant also said it had not been able to repay a debt ... (full story)