Chinese Developer Kaisa Returns to Court for Liquidation Hearing

(Bloomberg) — Few Chinese developers symbolize the long path to resolving the property debt crisis quite like Kaisa Group Holdings Ltd., which will be trying to fend off liquidation in a Hong Kong court Monday.

After multiple delays since a petition to wind up the builder was filed about 11 months ago, Kaisa must show progress in formulating proposals to restructure its debt, or risk being ordered to sell off assets to repay creditors. The company has more than $11 billion of dollar securities outstanding, one of the largest loads of its kind.