Reported 8 months ago
A Hong Kong court has granted Chinese developer Kaisa Group Holdings Ltd. more time to work on its debt restructuring plan in order to prevent liquidation, giving a warning that this may be the final opportunity for the company. Kaisa, facing a debt load of nearly $13 billion, has been struggling to present a restructuring plan for over two years after defaulting on offshore bonds in 2015 and again in 2021. The company has until August 12 to make progress on its restructuring efforts.
Source: YAHOO