Chinese developer Country Garden said it has received a winding-up petition from a creditor in a stock exchange filing on Wednesday.
The petition, filed at the Hong Kong High Court by Ever Credit Limited, involved non-payment of a HK$1.6bn ($204.5mn) loan, plus accrued interest.
According to the stock exchange filing, Hong Kong’s High Court has set the first date for hearing the petition for May 17. Country Garden said it would “resolutely oppose” the petition.
The company, once China’s largest private developer in terms of sales, defaulted on offshore debts in October last year.
The petition follows a Hong Kong court’s decision last month to order indebted developer China Evergrande to be wound up.