Country Garden's Hong Kong liquidation hearing postponed to July 29 due to evidence preparation.

From Investing.com: 2024-06-06 00:55:52

Country Garden, a Chinese property developer, had a hearing seeking liquidation adjourned to July 29 in the Hong Kong High Court. The company requested more time to prepare evidence. Defaulting on $11 billion of offshore bonds last year, it is currently undergoing an offshore debt restructuring. Shares have been suspended since April 2.

To push back against liquidation, Country Garden is working on debt restructuring talks with offshore creditors. Ever Credit Limited filed a petition in February for non-payment of a $205 million loan. The company plans to present a debt restructuring proposal to offshore creditors in the second half of this year. Judicial hearing was postponed to July 29.



Read more at Investing.com: Country Garden’s Hong Kong liquidation hearing further adjourned to July By Reuters