Country Garden may apply for court order to validate share transfer
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(Reuters) - Chinese developer Country Garden said on Monday it will consider if it is necessary to apply to the High Court for a validation order at a later stage after evaluating the progress of its offshore restructuring.
If the validation order is not applied for or granted, any transfer of shares made after Feb. 27 will be void if the company is liquidated, it said.
A liquidation petition was filed against Country Garden on Feb. 27 after it failed to meet repayment obligations.
(Reporting by Himanshi Akhand in Bengaluru; Editing by Shinjini Ganguli)
