(Yicai Global) Aug. 3 -- Shares of China Evergrande Group fell after the advertising arm of Leo Group became the latest supplier to the debt-laden real estate giant to sue over unpaid fees.

Evergrande [HKG:3333] finished 7.9 percent lower today at HKD5.22 (67 US cents), pulling up from a decline of as much as 9.5 percent. The stock has lost over 70 percent of its value since this time last year.

Shanghai MediaV Advertising is suing the Guangzhou-based developer for CNY356 million (USD55 million) because the firm failed to pay advertising fees on time, its parent company Leo said in a stock exchange filing late yesterday.

Leo is not the only supplier to have taken action against Evergrande. In the last week alone there have been two other cases reported.

A unit of Huaibei Mining Holdings said on July 28 that it filed suit against Lu’an Hengda Real Estate, an Evergrande unit, over CNY396 million in late fees. And Evergrande Real Estate’s 20 percent stake in Langfang Development, worth CNY349 million, was frozen due to a commercial dispute between the firm’s Wuhan-based arm and Xiaogan Gaochuang Investment, the latter said on July 29.

Editor: Futura Costaglione