News Snapshot:
(Bloomberg) -- The Chinese developer Oceanwide Holdings Co. says a lender’s lawsuit caused a unit to default on $215 million of bonds, the latest sign of stress in the Asian’s nation’s property debt amid China Evergrande Group’s woes..A suit brought by the Shanghai branch of Bank of Beijing Co. demanding “accelerated repayment” of a $69.3 million loan caused Oceanwide Holdings International Development III Co. to default on the 12% notes due this year, the developer said in a statement to Hong Kong’s stock exchange Friday. The statement did not provide details on the legal action..Trading in the notes has been...
