China Evergrande says has solved legal disputes with Guangfa Bank

China Evergrande, the country's most indebted developer, said in a statement on Thursday it has solved legal disputes with China Guangfa Bank and that the two sides will deepen business cooperation. A court in the eastern city of Wuxi this month ordered a freeze on a 132 million yuan ($20.4 million) deposit held by Evergrande and a unit at the request of Guangfa, a court filing on a Chinese corporate information app showed.

Evergrande said on Monday its loan was not due until March and that it planned to take legal action against the lender.