Debt-ridden Wintime Energy says its controlling shareholders couldn’t come up with the cash due to ‘liquidity restraints’

Following marathon meeting with bondholders Friday, energy company proposes $3.6 billion of divestitures to redress default

Private firm and its energy unit plan to offload assets, swap debt for equity to deal with debts

Missed interest payment triggers cross defaults, raises concerns about bonds totaling 27.4 billion yuan

Debt-ridden firm backs out of seven-company proposal after being blasted by creditors, suppliers for not repaying them first