Country Garden's liquidation hearing adjourned to January 5 (updated)

Kingboard Holdings

07/08/2025 16:03

Changes sourcing in paragraph 1

HONG KONG, Aug 7 (Reuters) -
Chinese property developer Country Garden 2007.HK 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 0148.HK.

 (Reporting by Roshan Thomas in Bengaluru and Jessie Pang, Clare Jim in Hong Kong; Editing by Louise Heavens and Anil D'Silva)

 ((clare.jim@thomsonreuters.com; Roshan.Thomas@thomsonreuters.com))