Reported 1 day ago
A liquidation petition has been filed against Sunac China, a major property developer, according to the Hong Kong judiciary's website. The petition was initiated by China Cinda Asset Management, with a hearing set for March 19. Sunac, which has struggled with debt since a crisis in 2021, previously restructured $9 billion in offshore debt but is now unlikely to meet upcoming bond maturity deadlines.
Source: YAHOO