Global restructuring specialists Alvarez & Marsal and Houlihan Lokey have boosted headcount in Hong Kong as Chinas property crisis results in a surge in debt restructuring deals making them a rare bright spot in hiring for the citys financial sector.
Chinas property industry, a key pillar of the worlds second-largest economy, has lurched from one crisis to another since 2021 after a regulatory crackdown on debt-fuelled construction triggered a liquidity squeeze.
According to a Reuters tally, around 20 Hong Kong-listed Chinese real estate developers have defaulted on dollar bonds which would require them to enter into restructuring talks with creditors or face liquidation.
Alvarez & Marsal, which saw two of its managing directors appo…
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