Jul 04, 2024 03:19 AM

FINANCE

Builder Times China’s Wind-Up Hearing Delayed Amid Debt Talks

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Times China intends to restructure a total principal amount of $2.9 billion of offshore debt

Times China intends to restructure a total principal amount of $2.9 billion of offshore debt

(Bloomberg) — A Hong Kong court adjourned the first winding-up hearing of Times China Holdings Ltd. to July 31, to give the petitioner more time to consider the defaulted builder’s debt proposal, according to a judge.

The liquidation petition was filed by Hang Seng Bank Ltd. in connection with financial obligations of about $173.2 million and HK$731.4 million ($93.6 million), respectively, Times China said in a statement in April.

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