Liquidators in Hong Kong, who have been trying to take control of Cayman-incorporated China Properties Group against months of resistance from its directors, are petitioning to wind up its Hong Kong subsidiaries indirectly owned through the BVI after failing to persuade a local court to order meetings to replace their boards.
18 March 2024
Just over a year since it failed to consummate a first scheme, Chinese real estate services group E-House’s latest restructuring attempt has been thrown into question again, by a Chinese bank refusing to release guarantee obligations given by a group subsidiary.
14 March 2024
Notes trustee Citicorp International has been substituted as the petitioner in a winding up motion against Chinese property developer Kaisa Group, while Evergrande’s liquidators have appointed Clifford Chance as its legal advisers.
08 March 2024
A British Virgin Islands-based Harneys partner is relocating to Hong Kong to join Appleby’s disputes practice, bringing with him over 30 years of experience working in the UK, Ireland and the Caribbean.
08 March 2024
The liquidators of a Singaporean commodities trader have failed in their attempts to account for a crossclaim the debtor had against its Hong Kong parent when the latter lodged a proof of debt in its winding-up – but they have been given the green light to make claims in the parent’s foreign liquidation.
07 March 2024
The Hong Kong branch of China Minsheng Banking Corporation has won approval to appoint a liquidator over British Virgin Islands-incorporated fund Tai Feng Investments, after a BVI court said liquidators can be appointed over a solvent company that is unable or refuses to pay its debts.
05 March 2024
A Hong Kong Court has refused to register execution rulings issued in Beijing under the 2008 version of the Reciprocal Enforcement Ordinance, finding that the rulings, which concern over US$61 million in unpaid loans, did not directly make orders for payment against a Hong Kong-based guarantor.
01 March 2024
Chinese developer Country Garden is facing a winding up petition in Hong Kong, while another property group, Powerlong, has entered a deal with an ad hoc group of creditors and existing lenders to exchange at least US$2.1 billion in offshore debt and a third developer, Zhongliang, has secured sanction of a scheme in Hong Kong.
28 February 2024
Chinese real estate services group E-House is seeking recognition in New York for the second time in two years, three months after courts in the Cayman Islands and Hong Kong sanctioned its parallel schemes of arrangement.
16 February 2024
The joint provisional liquidators of a Cayman-registered, mainland China-based blood storage group have blocked the transfer of its Hong Kong-incorporated subsidiaries to a Japanese national, after a Hong Kong court found the documents executing the transfers were void.
13 February 2024
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