Three Creditors 'Ask Shenzhen Court to Freeze Assets of Developer Kaisa'

(Beijing and Hong Kong) – At least three financial institutions with loans to Shenzhen-based developer Kaisa Group Holdings have asked a court in the southern city to seize the assets of the troubled firm in the hopes of minimizing their losses, court documents and sources close to the situation say.

Documents published on January 8 by the Shenzhen Intermediate People's Court show that the local branch of China Citic Bank made the request two days earlier.