Creditors Seek to Force Chinese Builder Xinyuan Into Bankruptcy
Xinyuan Real Estate workers inspect the interior of a building in New York.
Photographer: Christopher Goodney/BloombergThis article is for subscribers only.
Creditors of Chinese developer Xinyuan Real Estate Co Ltd. are seeking to force the company into bankruptcy protection in New York in order to collect on bonds that were due last year, according to a court filing.
The bondholders — Cithara Global Multi-Strategy, Mars Partner Limited and Star Freight & Trading Co. — are owed $65.8 million, the creditors said in an involuntary Chapter 11 petition filed Monday evening.