China property developer Shimao faces liquidation petition from state-owned bank
中国房地产开发商世茂面临国有银行的清盘呈请
Chinese developer Shimao Group said on Monday China Construction Bank (Asia) had filed a liquidation petition against it in Hong Kong over unpaid debts, a rare case of a state-owned bank taking such legal action in the property downturn.
中国房地产开发商世茂集团周一表示，中国建设银行（亚洲）已就未偿还债务在香港对其提起清盘呈请，这是国有银行在房地产低迷时期采取此类法律行动的罕见案例。
The petition centres on Shimao’s failure to repay loans of HK$1.58 billion ($201.75 million) and contrasts with legal processes against rival firms such as China Evergrande Group and Country Garden for defaulting on their debts that were launched by overseas-based creditors.
该请愿书的焦点是世茂未能偿还15.8亿港元（2.0175亿美元）的贷款，并与针对中国恒大集团和碧桂园等竞争对手拖欠海外债权人债务的法律程序形成鲜明对比。
CCB did not respond to a request for comment on the petition or the composition of its loans to Shimao.
建行没有回应有关请愿书或其向世茂贷款构成的置评请求。
