China Builders With Upcoming Lawsuits Just Got a ‘Wake-Up Call’
- Jiayuan received wind-up order last week despite debt efforts
- Peers such as Logan face court tests in coming weeks
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Defaulted Chinese developers facing key court dates in coming weeks received an abrupt reminder that it’s actions not words that count in restructurings, if you want to avoid getting liquidated.
Jiayuan International Group Ltd., a residential and commercial builder focused on areas northwest of Shanghai, received a winding-up order from a Hong Kong court last week despite having launched a debt exchange offer.