China's Kaisa Group liquidation petition adjourned by Hong Kong court
HONG KONG - A Hong Kong court on Monday adjourned a hearing into a petition seeking liquidation of Kaisa Group until Aug. 12, giving the embattled Chinese developer some respite as it works on its debt restructuring plan.
Citicorp International, the trustee of a major group of bondholders, has been acting as petitioner since March after a former petitioner withdrew.China Evergrande was ordered to liquidate by a Hong Kong court earlier this year and a growing list of companies in the sector, including Country Garden, are fighting against liquidation petitions filed by creditors.
Kwok travelled to Shenzhen for talks with a government committee and onshore regulators about two months ago and is still there, sources said.
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