Shimao and Times China Wind-Up Hearings Adjourned Amid Debt Talks

(Bloomberg) — Liquidation hearings against Shimao Group Holdings Ltd. and Times China Holdings Ltd. have been adjourned until Aug. 12 as the two troubled Chinese developers try to gain creditors’ backing for their restructuring proposals.

A legal representative for Shimao’s winding-up petitioner asked for “an opportunity to properly consider the revised term sheet.” While Shimao and a creditor group sought a 10-week adjournment, the Hong Kong judge granted them less than two weeks.