Reported 29 days ago
Sino-Ocean Group Holding Ltd. received a temporary pause in its liquidation hearing in Hong Kong as it seeks to bolster creditor support for its debt restructuring plan. A Hong Kong court has adjourned the case until September 23, allowing Sino-Ocean time to demonstrate progress amid rising tensions with a group of bondholders. The company, facing significant debt and a challenging real estate market, aims to restructure $5.6 billion into $2.2 billion of new debt, while navigating complex negotiations with its creditors.
Source: YAHOO