Chinese Developer Jiayuan Receives Two Wind-Up Petitions (1)

A Chinese developer of residential and commercial complexes said it’s been served with two wind-up petitions as property firms’ creditors seek court help on debt repayments.

The petitions involve about HK$15 million ($1.9 million), Jiayuan International Group Ltd. said in a Hong Kong stock exchange statement. Its board doesn’t believe the claims will have a material impact based on information available from court filings in the city. The company also announced the resumption of stock and note trading, and that an 879 million yuan ($131 million) asset-sale deal has been reached.

Shares rose as much as 14% Thursday following ...