On Thursday (local time), Evergrande, a pivotal player in the unfolding “domino default” crisis within the Chinese real estate sector, formally submitted for bankruptcy protection in the U.S. The company has initiated proceedings for debt restructuring under Section 15 of the U.S. Bankruptcy P...
During the darkest time of real estate industry, a small private-owned real estate enterprise always lagging behind has unexpectedly survived so far In the past year, the real estate industry experienced the darkest moment with obstacle in both the sales side and the financing side, which brought...
Ni Hong, minister of housing and urban-rural development, said earlier this month that Chinese housing companies that are insolvent or can no longer operate must file for bankruptcy or restructuring in line with the country's laws and market rules. “China should also release a larger amount of...
Furthermore, a repeat of events that brought Zhejiang Xingrun Real Estate to the brink of bankruptcy is unlikely. The developer is estimated to owe 15 domestic banks 2.4 billion yuan and individual investors another 1.1 billion, with only 3 billion yuan of assets on hand. Read More "Full-blo...
Many industry juggernauts are now either on the verge of bankruptcy or in dire financial straits. Shenzhen-based Kaisa, which has nearly 17,000 employees, in 2015 became the first Chinese real estate group to default on dollar-denominated bonds before charting a financial recovery. ...
curtailing financing of higher-risk projects such as commercial construction and highly leveraged corporate transactions. A number of weaker institutions were also consolidated through bankruptcy, merger and reorganization. These developments played some part in the general tightening of credit during 1991, ...
The news about the subsidiaries of the embattled real estate developer's New Energy Vehicle operation came after creditors filed for the proceedings last month. Their filings did not spell out reasons. Any such bankruptcy and reorganization could impact ongoing talks between liqui...
of 10metrics, namely, foreign enterprise access provisions, public security ofcommercial premises, convenienceofpublicservicefacilities, labormarket,financialinfrastructureand services, international trade, taxation policies, dispute settlement mechanism,market competition,andoperativeapproachesofcorporatebankruptcy....
s offshore-debt restructuring plan—crucial for its survival—is now more in doubt than ever. “[The company is] very likely to fail on debt restructuring, and with negative equity, Evergrande may go into bankruptcy, which includes bankruptcy reorganization and bankruptcy liquidation,” bro...
This implies: 1) Loosening risk tolerance for asset-light tech companies, coupled with improved risk management systems, including digital risk assessment tools. Lessons from the Silicon Valley Bank bankruptcy in March 2023 have informed these measures. 2) Increasing the allocation of financial resource...