Kaisa Wins Hong Kong Court Approval for Offshore Debt Plan
Defaulted Chinese developer Kaisa Group Holdings Ltd. won a Hong Kong court's approval for its offshore restructuring, according to people familiar with the matter, clearing the way for it to proceed with its debt plan.
The development comes after Hong Kong High Court Judge Linda Chan reserved a decision on the restructuring on Friday, saying that she needed to check on some matters, without elaborating. Companies often receive approval for such plans as the hearings wrap up.
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