Deutsche Bank plans to file a liquidation lawsuit against Shimao Group in Hong Kong over unpaid $1B bond.

Deutsche Bank plans to file a liquidation lawsuit against Chinese developer Shimao Group in Hong Kong amid rising credit defaults and China's deepening property crisis. Shimao missed an interest and principal payment on a $1 billion offshore bond in July 2022. Deutsche Bank, one of the developer's creditors, finds Shimao's debt restructuring terms unacceptable and intends to file the petition this month.

March 01, 2024
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