Distressed Chinese Companies Face Flurry of Court Hearings
- Eight firms due in court over cases related to debt woes
- Financial and legal troubles for builders continue to grow
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At least eight major distressed Chinese firms, including a China Evergrande Group unit, are set to defend themselves in court cases relating to their debt problems over the next two weeks, in one of the busiest stretches ever for such hearings.
Tianji Holding Ltd., an offshore subsidiary of Evergrande and a guarantor to some of the defaulted builder’s dollar notes, is scheduled to make its case in a Hong Kong court on Wednesday, along with HNA Group (International) Co. and Suning Sports International Ltd. Another Evergrande subsidiary, CEG Holdings BVI Ltd., was given a liquidation order earlier this month.