Creditors sue China Evergrande Group for $13 billion in claims

Chinese creditors have sued China Evergrande Group for more than $13 billion in allegedly overdue payments, according to a report.

A Chinese court assigned to handle civil lawsuits against Evergrande accepted 367 cases, with claims totalling 84 billion yuan ($13.2 billion), the Financial Times reported, citing official records. The cases were accepted between late August and earlier this month, the report said — in the period after financial regulators told the developer to resolve its debt problems and up to Fitch Ratings’ downgrade of the developer to ‘restricted default’ last week.

Meanwhile, Shimao Group Holdings Ltd. jumped as much as 11 per