Explore stories from Atlantic Canada.
Everything to know about the April 8 eclipse in Atlantic Canada | SaltWire #eclipse | SaltWire - Shimao Group said on Monday China Construction Bank had filed a liquidation lawsuit against the Chinese developer over a financial obligation of HK$1,579.5 million .
"The company is of the view that the petition does not represent collective interests of the offshore creditors and other stakeholders," Shimao said in a stock exchange filing, adding it will oppose the lawsuit and continue with its debt restructuring plan.Last month, Shimao laid out detailed restructuring terms to revamp its $11.5 billion offshore debt with an aim to cut its debt by 60% last month.
Shanghai-based Shimao is among the many Chinese developers that have defaulted on offshore bonds, after it missed the interest and principal payment for a $1 billion offshore bond in July 2022.China Evergrande Group, the world's most indebted property developer, was ordered to be liquidated by the Hong Kong court in January, and a liquidation petition has also been filed against Country Garden.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China vows to safeguard its territorial integrity after South China Sea incidentExplore stories from Atlantic Canada.
Read more »
China vows to safeguard its territorial integrity after South China Sea incidentExplore stories from Atlantic Canada.
Read more »
China coast guard says it took measures against Philippine vessels in South China SeaExplore stories from Atlantic Canada.
Read more »
China coast guard says it took measures against Philippine vessels in South China SeaExplore stories from Atlantic Canada.
Read more »
US and China Agree to Hold Talks on China's Economic ModelThe US and China have agreed to hold talks addressing a key American complaint about China's economic model, according to Treasury Secretary Janet Yellen. The talks will focus on unfair Chinese trade practices and the potential implications for the US market.
Read more »
Explore Amazon’s 32 Deepest Discounts This Spring SaleGet ready for the shopping thrill of the season! Amazon's March sale is offering its deepest discounts yet, turning your shopping wishes into unbeatable reality.
Read more »