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Chinese property developer Shimao Group confirmed in a stock exchange announcement on Monday that its creditor, state-owned bank China Construction Bank (Asia), has filed a winding up petition before a court in Hong Kong. The case concerns an unpaid loan totalling almost $1.6 billion Hong Kong (about $200 million US), it said in the statement. Shimao said the company would “oppose the petition vigorously” in order to protect the interests of its stakeholders. In February, property developer Country Garden confirmed its creditor Ever Credit Limited had filed a winding-up petition. Country Garde…

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