Kaisa's Liquidation Case Deferred by Hong Kong Court, Providing Developer a Reprieve

Monday, 24 June 2024, 02:13

The Hong Kong court has rescheduled Kaisa's liquidation case to August 12, offering a temporary respite to the embattled developer. Kaisa, a Shenzhen-based company, has been grappling with debt restructuring efforts for over two years following a default on US$12 billion of offshore debts in late 2021. The adjournment allows Kaisa additional time to navigate its financial challenges and potentially explore alternative solutions.

South China Morning Post — Kaisa's Liquidation Case Deferred by Hong Kong Court, Providing Developer a Reprieve

Kaisa's Legal Battle Postponed

The Hong Kong court has postponed the liquidation case involving Kaisa, providing the company with a much-needed breather.

Debt Restructuring Struggles

Kaisa, a Shenzhen-based developer, has been endeavoring to restructure its debts after defaulting on US$12 billion in offshore debts towards the end of 2021.

Extended Timeline

The rescheduling of the case to August 12 grants Kaisa additional time to address its financial woes and potentially seek alternative resolutions.

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