Developer Sunac China gets liquidation petition, Hong Kong judiciary website shows (updated)

Sunac China Holdings

10/01/2025 24:30

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       Jan 9 (Reuters) - A liquidation petition has been filed
against indebted property developer Sunac China  1918.HK , the
Hong Kong judiciary's website showed late on Thursday.
    The petition has been filed by a unit of asset manager China
Cinda Asset Management  1359.HK , and a hearing is scheduled for
March 19, the website shows.
    Beijing-based Sunac and China Cinda Asset Management did not
immediately respond to Reuters requests for comment.
    Earlier this week, sources close to the company said it was
unlikely to meet a September bond maturity deadline which is
part of its restructuring process.
    Sunac, which prior to the debt crisis that jolted the
property sector in 2021 ranked among China's top developers by
sales, was the first to complete a comprehensive overhaul of its
$9 billion offshore debt in November 2023.

 (Reporting by Sherin Sunny in Bengaluru; Editing by Alison
Williams and Tomasz Janowski)
 ((Sherin.Sunny@thomsonreuters.com;))