Country Garden may apply for court order to validate share transfer

Chinese language developer Country Backyard mentioned on Monday this would maybe take into account if it’s serious to follow to the High Court for a validation elaborate at a later stage after evaluating the development of its offshore restructuring.

If the validation elaborate is no longer any longer applied for or granted, any switch of shares made after Feb. 27 will be void if the corporate is liquidated, it mentioned.

A liquidation petition was filed in opposition to Country Backyard on Feb. 27 after it failed to fulfill compensation obligations.