HONG KONG (Reuters), – Two parcels of land have been reclaimed by Chengdu’s China Evergrande Group. It is the latest action taken by the authorities to seize the assets of this cash-strapped property investor.

In southwestern London, the Land Planning Authority said that it would take control of plots measuring over 300,000 sq. meters. Evergrande was responsible for their development but they had failed to do so after ten years.

Notifications regarding the plots were issued by the authority Dec. 17 in response to the Haikou authority’s similar move of last week. They took back a plot with no compensation in Hainan island province.

After Evergrande failed to pay two foreign bonds dues, the Chinese government has taken control of Evergrande. This triggered a restructuring that will address its liabilities totalling more than $300 billion.

According to two people with direct knowledge, authorities are looking at Evergrande’s assets as well as its chairman Hui Ka Yan. But they don’t expect to fire anyone for the moment.

Evergrande’s Guangzhou soccer arena has been taken by the government. This soccer venue is expected to have the highest capacity in the world.

China Evergrande New Energy Vehicle Group, its EV unit, also announced late last month that it had given seven undeveloped land parcels for seven projects totalling 1.3 billion Yuan ($203.87million) back to the government.

Evergrande shares fell 9.9% to HK$1.46, a new low.

S&P downgraded Evergrande on Friday to “selective default” after the firm missed a debt payment deadline earlier this month, putting the developer at risk of becoming the country’s biggest defaulter. Fitch already reduced the developer’s status to “restricteddefault”.

($1 = 6.3765 renminbi)