Caixin
Nov 16, 2022 01:52 PM
ECONOMY

China Builder Sunac’s Winding-Up Case Adjourned for Seven Months

Sunac China said in September that it planned to “vigorously” oppose the winding-up petition.
Sunac China said in September that it planned to “vigorously” oppose the winding-up petition.

(Bloomberg) — A court hearing on a winding-up lawsuit against Chinese developer Sunac China Holdings Ltd. was adjourned to June, providing the firm more leeway to craft a debt-restructuring plan.

The case has been adjourned to June 14, 2023, according to a Hong Kong court decision Wednesday morning. 

The country’s 10th-largest builder by contracted sales had disclosed the winding-up case was filed in September by Chen Huaijun. Sunac said he’s allegedly owed $22 million in principal plus interest on senior notes.

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