Struggling Chinese property firm Country Garden submits debt restructuring plan to avoid liquidation.
Struggling Chinese property giant Country Garden has submitted a preliminary offshore debt restructuring plan to some creditors to avoid liquidation. The plan includes a revised, weaker cash flow projection compared to earlier estimates. The company defaulted on $11 billion in bonds last year and faces a liquidation petition in Hong Kong. It aims to gain creditor support before a January court hearing.
4 months ago
6 Articles
Articles
Further Reading
You have 8 free stories remaining this month. Subscribe anytime for unlimited access.