Bank of New York Mellon Takes Legal Action Against Sino Ocean Over Debt Dispute

Friday, 28 June 2024, 04:00
Bank of New York Mellon is suing Chinese property developer Sino Ocean to liquidate a debt of US$400 million. Sino-Ocean is among the many firms facing liquidation lawsuits in the wake of China's deleveraging campaign, which has led to plummeting home sales and liquidity problems for developers. The legal action signals the escalating financial challenges in China's real estate sector.
South China Morning Post
Bank of New York Mellon Takes Legal Action Against Sino Ocean Over Debt Dispute

Financial Turmoil for Chinese Property Developer

Impact of Deleveraging Campaign

  • Severe Liquidity Issues
  • Home Sales Plunge

Chinese property developer Sino-Ocean is facing a US$400 million debt liquidation lawsuit from Bank of New York Mellon. The lawsuit highlights the ongoing financial struggles in China's real estate market.

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