Property Firm China Oceanwide Gets Liquidation Order in Bermuda
- Lender filed lawsuit involving $175 million loan: filing
- Oceanwide had New York tract seized, trouble with LA project
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A Chinese property investor that has struggled with several US projects faces court-ordered liquidation as a Bermuda court issued a winding-up order against the firm.
China Oceanwide Holdings Ltd. disclosed the order in a Monday filing with Hong Kong’s stock exchange. Liquidators have been appointed and the company’s shares listed in the city have been suspended. The winding-up petition was filed in June 2022 and involved $175 million of loan principal that the petitioner said wasn’t paid, Oceanwide said at the time. The financing involves a pledged New York property and secured shares.