Evergrande Crisis: Centaline Property Agency plans further legal action against embattled developer’s Hong Kong subsidiary to recoup ‘unpaid commission’

Name: Chinese real estate giants Evergrande and Kaisa continue unloading assets to cover debt
Uploaded: 2021-12-29T14:00:30.000Z
Duration: 3 min 2 s
Description: Chinese real estate giants Evergrande and Kaisa continue unloading assets to cover debt

The property agency says it plans to apply through the courts to chase the HK$113 million (US$14.5 million) it claims it is owed by Evergrande’s Hong Kong unit

The ‘unpaid fees’ involve 520 units at Evergrande’s Emerald Bay project in Tuen Mun, Centaline says

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The fees applied to 520 units of the Emerald Bay residential project in Tuen Mun accrued by more than 560 agents, Centaline said. Photo: EPA-EFE

Iris OuyangandLam Ka-sing

Published: 10:00pm, 29 Dec 2021Updated: 11:32pm, 29 Dec 2021

Hong Kong’s biggest property sales agency plans to take further legal action against a subsidiary of China Evergrande Group to recoup “unpaid commission” from the troubled developer.

Centaline Property Agency said it will apply through the courts to chase HK$113 million (US$14.5 million) it claims it is owed by Evergrande’s Hong Kong unit.

The fees applied to 520 units of the Emerald Bay residential project in Tuen Mun accrued by more than 560 agents, Centaline said in an emailed statement on Wednesday.

Calls to Evergrande seeking comment were not immediately answered.

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Chinese real estate giants Evergrande and Kaisa continue unloading assets to cover debt

Centaline had already filed a lawsuit against Evergrande in September seeking HK$3.1 million in overdue commissions, a court filing showed at the time.

The threat of further legal action would add to the already grave woes of the world’s most indebted real estate developer.