Evergrande is on course to face a record number of legal challenges in Chinese courts this year as disputes with contractors pile pressure on the under-stress developer’s attempts to reduce its more than $100bn in debts.
Figures from Tianyancha, a data provider, showed that Evergrande has been involved in 427 legal cases this year, compared with 436 over the whole of 2020. In the past week, 18 cases have arisen — more than the developer’s total in 2014.
Legal cases involving the developer, which have increased significantly over the past few years, have been thrust into the spotlight in recent weeks as fears mounted over Evergrande’s financial health.
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