Chinese Developer Troubles Deepen as Dexin Gets Liquidated
- A Hong Kong court issued a wind-up order against the firm
- Country Garden is among major builders facing such hearings
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The list of Chinese developers facing court-ordered liquidation in Hong Kong is getting longer, after a builder of homes in an affluent eastern coastal region was ordered to wind up.
Dexin China Holdings Co. received the order Tuesday, three months after a petition was filed by China Construction Bank (Asia), and a year and half after it defaulted. A new restructuring plan was approved last year, though the developer, which builds residential as well as commercial buildings, wasn’t able to keep up with that either.