Chinese Developer Troubles Deepen as Dexin Gets Liquidated

(Bloomberg) — The list of Chinese developers facing court-ordered liquidation in Hong Kong is getting longer, after a builder of homes in an affluent eastern coastal region was ordered to wind up its business.

Dexin China Holdings Co. Ltd. received the order Tuesday, three months after a petition was filed by China Construction Bank (Asia) Corp. Ltd., and a year and half after it defaulted. A new restructuring plan was approved last year, though the developer, which builds residential as well as commercial buildings, wasn’t able to keep up with that either.