Country Garden Holdings Co. Ltd. (OTCPK: CTRYY), a leading property developer in China, is facing a potential debt default with a debt load of $187 billion. The company must settle a sum of $22.5 million in coupons by Sept. 6, marking the end of a 30-day grace period. Failure to meet this payment could lead to creditors declaring a default, potentially triggering a more significant crisis than the one experienced by China Evergrande Group. Despite fulfilling its obligations on a ringgit-denominated bond and securing an extension with domestic investors regarding yuan-denominated bonds, the company still owes dollar interest payments.