Summary by Moomoo AI
New Creation Group Limited (the “New Creation Group”) announced on 29 February 2024 that its Independent Non-Executive Director, Mr. Shek Li-Qian, informed the Company that Ever Credit Limited has filed a petition for liquidation of Biti against Guiuan Holdings Limited with the High Court of the Hong Kong Special Administrative Region. The petition concerns about HK$16 billion in unpaid term loans and accrued interest and is scheduled for a first hearing on 17 May 2024. Country Garden noted in an announcement dated February 28, 2024 that the High Court had not yet issued a liquidation order. The newly created group said that it is not currently possible to predict the possible outcome of the petition or the current state of affairs. Mr. Shek Li-Qian has been an Independent Non-Executive Director of Country Garden since 2006. Country Garden is primarily engaged in real estate development and is listed on the Hong Kong Stock Exchange (Stock Code: 02007). The newly created group will update relevant information in due time in accordance with the listing rules.