While all of them have been granted temporary reprieves ranging from four weeks to seven weeks, some remain exposed to the risk of liquidation Kaisa was warned there is no excuse for another adjournment if no progress is seen before the next hearing.
Dexin, a medium-sized developer based in eastern Chinas Zhejiang province, was ordered to liquidate earlier in June by a Hong Kong court after it failed to make debt repayments in time.
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A vanishing fairyland dream: how China Evergrande rose, then crashed
A vanishing fairyland dream: how China Evergrande rose, then crashed
Sino-Ocean, a state-backed developer, received a petition on Friday, while Country Garden Holdings, once the biggest Chinese developer, faces its…
Read the full article at: https://www.scmp.com/business/china-business/article/3268620/troubled-chinese-developers-face-unprecedented-wave-liquidation-suits-hong-kong