Hong Kong court adjourns China developer Shimao's liquidation petition By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 31 2024
0mins
Source: Investing.com
Shimao Group's Liquidation Hearing: The Hong Kong court has postponed Shimao Group's liquidation hearing to August 12, allowing the company more time to negotiate a restructuring plan with creditors after facing significant debt issues.
Industry-Wide Debt Crisis: Many Chinese property developers, including Shimao and Times China, are dealing with liquidation lawsuits due to a debt crisis that began in 2021, with Shimao recently defaulting on $11.5 billion in offshore debt.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
