Source: China – South China Morning PostFantasia Holdings Group, the Shenzhen-based property developer founded by the niece of a former Chinese vice-president, has failed to repay US$205 million of debt due on Monday.
The default will add to fears about the financial health of the Chinese property sector, as the liquidity crisis at China Evergrande Group – the world’s most indebted property developer – continues to unfold.
“Under the indenture governing the 2021 notes, all outstanding principal amount of the 2021 notes shall be due…Read More