Kaisa Group and Times China Seek to Avoid Liquidation in Hong Kong Court

Debt-ridden Chinese developers face critical hearings as they attempt to finalize restructuring plans and stave off creditor actions.

Kaisa Group's hearing adjourned until September 9 to finalize restructuring agreement with bondholders.
Times China has reached an in-principle agreement with creditors but seeks more time for finalization.
Kaisa has been restructuring its $12 billion offshore debt since defaulting in late 2021.
Both companies are under pressure from increasingly hostile offshore creditors.
Failure to reach agreements could result in liquidation, further destabilizing China's property market.