China's Kaisa Group liquidation petition adjourned by Hong Kong court

Kaisa group

24/06/2024 02:53

HONG KONG, June 24 (Reuters) - A Hong Kong court on
Monday adjourned a hearing into a petition seeking liquidation
of Kaisa Group  1638.HK  until Aug. 12, giving the embattled
Chinese developer some respite as it works on its debt
restructuring plan.
    The Shenzhen-based developer has been working to restructure
its offshore debt for two years after defaulting on $12 billion
in offshore debt in late 2021.
    

 (Reporting by Clare Jim in Hong Kong; Editing by Kim Coghill)
 ((Scott.Murdoch@thomsonreuters.com;))