Guangzhou R&F Properties Co., Ltd. (GZUHF)

China's Guangzhou R&F Properties faces liquidation petition in Hong Kong

The petition was filed on Monday at a Hong Kong Court by Seatown Private Credit Master Fund, which holds an 18% interest in the total outstanding loan amounting to $613.66 million. Cash-strapped R&F is the latest Chinese property developer facing a liquidation suit filed by creditors. Last month, state-backed Sino-Ocean Group said it was facing a winding up petition from The Bank of New York Mellon and China Evergrande Group was ordered to liquidate earlier this year.