Hong Kong court adjourns Kaisa Group liquidation hearing to June 24, allowing more time for debt restructuring.
A Hong Kong court has adjourned a hearing on a petition seeking the liquidation of Kaisa Group, a Chinese developer, to June 24, granting the embattled company more time to work on its debt restructuring plan. Kaisa, which defaulted on $12bn in offshore debt in late 2021, has been attempting to restructure its debt for over two years. The company's last public update on its debt restructuring revealed a 51% increase in its 2023 loss to 19.7bn yuan ($2.7bn).
May 27, 2024
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