Hong Kong court adjourns liquidation hearing of China developer Kaisa

By Thomson Reuters May 26, 2024 | 9:00 PM

HONG KONG (Reuters) – A Hong Kong court on Monday adjourned a hearing into a petition seeking the liquidation of Kaisa Group until June 24, giving a breather to the embattled Chinese developer amid Beijing’s efforts to revive the crisis-hit property sector.

Shenzhen-based Kaisa has been working on an offshore debt restructuring for two years after defaulting on $12 billion in offshore debt in late 2021.

(Reporting by Xie Yu; Editing by Anne Marie Roantree and Tom Hogue)