Real Estate
Builder Yuzhou Seeks Debt Restructuring Recognition in US
- Chinese builder Yuzhou files for Chapter 15 in New York
- Filing follows similar moves by developers such as Sunac
A man works at a construction site of a residential skyscraper in Shanghai.
Photographer: Johannes Eisele/AFP/Getty ImagesThis article is for subscribers only.
Yuzhou Group Holdings Co. filed for Chapter 15 bankruptcy Thursday in New York, a move by the defaulted property developer to seek US court recognition for its offshore debt restructuring and ward off litigation.
The Chinese builder, which failed to pay $2.9 billion of dollar notes with interest as of the end of 2023, is undergoing restructuring in Hong Kong and Cayman Islands.