Reported 11 months ago
A liquidation case against Chinese property developer Shimao Group has been adjourned to July 31 in Hong Kong as it extends the deadline for creditors in a debt restructuring plan. The adjournment was approved by a Hong Kong court following a request by Shimao and the petitioner, China Construction Bank (Asia). Shimao is actively discussing with creditors regarding the offshore debt restructuring proposal and has extended the deadline for the early consent fee to July 31, aiming to avoid liquidation.
Source: YAHOO