Receivers have been appointed over land in Hong Kong that China Evergrande Group used as collateral for a $520 million loan, but the sale of the plot won’t affect the company’s broader restructuring, the troubled developer said.
Evergrande was notified on Wednesday about the move, which relates to a plot of undeveloped residential land located in Yuen Long, the property company said in a filing late Sunday in Hong Kong. It didn’t name the lender.
