May 27, 2024 04:16 PM
FINANCE
Chinese Builder Kaisa Granted More Time for Restructuring
00:00/00:00
Listen to this article
1x
Subscribe now
Listen to the full version
Listen to the full version
The distressed developer has yet to present a restructuring proposal more than two years after its offshore default. Photo: Bloomberg
(Bloomberg) — A Hong Kong court on Monday adjourned a hearing on a winding-up petition against Chinese developer Kaisa Group Holdings Ltd. until June 24, giving the struggling firm more time to work on a debt agreement.
The hearing was the second held since the original petitioner asked to quit, and a key group of creditors with more than a third of Kaisa’s offshore borrowings sought to take its place.
You've accessed an article available only to subscribers
VIEW OPTIONS
Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.
Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.
Share this article
Open WeChat and scan the QR code
- PODCAST
- MOST POPULAR
Sign in with Google
Sign in with Facebook
Sign in with 财新