Kaisa, Times China Face Hong Kong Court to Avoid Liquidation

(Bloomberg) — Chinese developers Kaisa Group Holdings Ltd. and Times China Holdings Ltd. will square off with creditors Monday, seeking to avoid liquidation before a Hong Kong court where decisions against the sector are starting to pile up.

Sued by its creditors to liquidate after a 2021 bond default, Kaisa has been fighting against their efforts for about a year without publicly presenting a restructuring plan. The lack of progress drove Judge Peter Ng of the court to warn the Shenzhen-based company in June that Monday’s hearing might be its last chance to avoid being put into involuntary liquidation.