Modern Land China Files for Chapter 15 Bankruptcy
Modern Land China filed for Chapter 15 bankruptcy in New York on Friday, a move that allows the company to protect its US assets while implementing a restructuring elsewhere. This comes after the developer failed to repay a $250mn bond due in October 2021 and said it...
Greenland’s Bonds Trend Higher; Modern Land to Proceed with Debt Restructuring; Road King Cuts Dividend
Greenland Holdings’ dollar bonds have been trending higher this week. While the exact reason for the rally was not known, the rally comes despite details of its financial troubles breaking out on March 15, where sources said that SOEs stepped-in to rescue the...
Evergrande Shifts Headquarters to Save Costs; Agile to Agrees to Sell 14 Properties for $439mn
China Evergrande has switched its headquarters in Shenzhen to its own property in Guangzhou in an effort to save costs. However, its registered place has not changed and is still in Shenzhen. “Returning to Guangzhou is a return home, which will help to gain more...
