Latest news with #Kingboard
Reuters
5 days ago
- Business
- Reuters
Country Garden's liquidation hearing adjourned to January 5
HONG KONG, Aug 7 (Reuters) - Chinese property developer Country Garden ( opens new tab confirmed on Thursday that the Hong Kong High Court had adjourned a hearing into a liquidation petition against it to January 5, 2026. The adjournment was earlier posted on the Hong Kong judiciary's website. The hearing was originally scheduled for August 11, 2025. Once a top developer by sales in the country, Country Garden defaulted on its offshore debt in late 2023 and is now trying to gain lenders' support on its restructuring proposal that aims to cut $14.1 billion of that debt by 78%. Getting enough creditor support on the restructuring proposal is essential for Country Garden to convince the court to reject the petition, which was filed last year by Ever Credit, a unit of Hong Kong-listed Kingboard ( opens new tab.
Reuters
5 days ago
- Business
- Reuters
Country Garden liquidation hearing delayed to January 5, court website shows
HONG KONG, Aug 7 (Reuters) - A hearing into a liquidation petition against Chinese property developer Country Garden ( opens new tab has been postponed to January 5, 2026, according to the Hong Kong judiciary's website. The hearing was originally scheduled for August 11, 2025. Once a top developer by sales in the country, Country Garden defaulted on its offshore debt in late 2023 and is now trying to garner lenders' support on its restructuring proposal that aims to cut $14.1 billion of that debt by 78%. Country Garden did not immediately respond to a request for comment. Getting enough creditor support on the restructuring proposal is essential for Country Garden to convince the court to reject the petition, which was filed last year by Ever Credit, a unit of Hong Kong-listed Kingboard ( opens new tab.
