Chinese govt summons Evergrande boss as firm’s debts mount | WHAT REALLY HAPPENED X-Frame-Options: SAMEORIGIN

Chinese govt summons Evergrande boss as firm’s debts mount

Chinese authorities have summoned the founder of Evergrande, once China's top-selling developer which is now on brink of default, after the firm announced earlier on Friday it may be unable to repay its debt.

The real estate developer received a demand under a $260 million guarantee obligation, which it may be unable to repay due to insufficient funds, the company announced in a filing to the Hong Kong stock exchange.

It added that repayment dates under other agreements may also have to be postponed.

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