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.
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