Country Garden's Hong Kong liquidation hearing further adjourned to July
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The Hong Kong High Court has further adjourned the liquidation hearing of Chinese property developer Country Garden to July 29. The hearing was originally adjourned to June 11 from May, as Country Garden requested more time to prepare evidence. The company's shares have been suspended from trading since April 2. Country Garden is in the process of an offshore debt restructuring after defaulting on $11 billion of offshore bonds last year. The developer is working with advisers, an ad hoc group of bondholders, and a group of bank lenders on due diligence to review its balance sheet. Ever Credit Limited filed the petition against Country Garden in February for non-payment of a $205 million loan. Country Garden plans to present a debt restructuring proposal in the second half of this year.



https://www.investing.com/news/stock-market-news/country-gardens-hong-kong-liquidation-hearing-further-adjourned-to-july-3475086