(Reuters) – A liquidation petition has been filed towards indebted property developer Sunac China, the Hong Kong judiciary’s web site confirmed late on Thursday.
The petition has been filed by a unit of asset supervisor China Cinda Asset Administration, and a listening to is scheduled for March 19, the web site reveals.
Beijing-based Sunac and China Cinda Asset Administration didn’t instantly reply to Reuters requests for remark.
Earlier this week, sources near the corporate stated it was unlikely to satisfy a September bond maturity deadline which is a part of its restructuring course of.
Sunac, which previous to the debt disaster that jolted the property sector in 2021 ranked amongst China’s high builders by gross sales, was the primary to finish a complete overhaul of its $9 billion offshore debt in November 2023.
(Reporting by Sherin Sunny in Bengaluru; Modifying by Alison Williams and Tomasz Janowski)