Chinese property developer Kaisa Group Holdings receives a 7-week extension for debt restructuring, avoiding liquidation for now.
Chinese property developer Kaisa Group Holdings receives a 7-week extension from a Hong Kong court to develop its debt restructuring plan, avoiding liquidation for now. The judge warns this may be the company's last chance, as further delays could lead to the case's dismissal. Kaisa has been struggling against a winding-up petition for almost a year without presenting a restructuring plan. The company defaulted on offshore bonds in 2018, raising concerns in the property sector.
June 24, 2024
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