financetom
Business
financetom
/
Business
/
Chinese developer Shimao's liquidation hearing adjourned to July 31
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Chinese developer Shimao's liquidation hearing adjourned to July 31
Jun 25, 2024 10:37 PM

HONG KONG, June 26 (Reuters) - A liquidation case

against Chinese property developer Shimao Group ( SIOPF ) has

been adjourned to July 31 as it has again extended a deadline

for creditors in relation to a debt restructuring plan, the

company said in a filing on Wednesday.

The adjournment was made by a Hong Kong court following a

consensual application for such a move by Shimao ( SIOPF ) and the

petitioner - state-owned lender China Construction Bank (Asia) -

the filing to the Hong Kong Stock Exchange said.

It added Shimao ( SIOPF ) and its advisers "are actively advancing

discussions with creditors" regarding its offshore debt

restructuring proposal, and the firm has further extended the

deadline for the early consent fee, or the fee paid to creditors

as an incentive to support the restructuring, to July 31.

Reuters reported on Tuesday that Shimao ( SIOPF ) had sweetened terms

in its $11.5 billion offshore debt restructuring plan to garner

support from creditors, as it tries to fend off the liquidation

petition.

(Reporting by Xie Yu; Editing by Muralikumar Anantharaman)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
AM Best Comments on Credit Ratings of MAPFRE S.A.’s Rated Operating Subsidiaries Following Announced Acquisition of Safety Insurance Group, Inc.
AM Best Comments on Credit Ratings of MAPFRE S.A.’s Rated Operating Subsidiaries Following Announced Acquisition of Safety Insurance Group, Inc.
Jul 27, 2026
AMSTERDAM--(BUSINESS WIRE)-- AM Best has commented that the Credit Ratings (ratings) of MAPFRE S.A.’s (MAPFRE) rated operating subsidiaries remain unchanged following the announcement that MAPFRE U.S.A. Corporation (MAPFRE USA) has entered a definitive agreement to acquire Safety Insurance Group, Inc. (Safety), a property/casualty insurer with a leading market position in Massachusetts and a presence in several states in the Northeast...
Five Star Bancorp Announces the Full Exercise and Closing of Underwriters’ Option to Purchase Additional Shares in the Company’s Underwritten Public Offering
Five Star Bancorp Announces the Full Exercise and Closing of Underwriters’ Option to Purchase Additional Shares in the Company’s Underwritten Public Offering
Jul 27, 2026
RANCHO CORDOVA, Calif., July 27, 2026 (GLOBE NEWSWIRE) -- Five Star Bancorp ( FSBC ) (“Five Star” or the “Company”), a holding company that operates through its wholly owned banking subsidiary, Five Star Bank (the “Bank”), announced today the full exercise and closing of the sale of 408,750 shares of Company common stock to the underwriters in its previously announced...
Talos Energy Announces Strategic Offshore Mexico Development Farm-In
Talos Energy Announces Strategic Offshore Mexico Development Farm-In
Jul 27, 2026
HOUSTON, July 27, 2026 /PRNewswire/ -- Talos Energy Inc. ( TALO ) (Talos or the Company) today announced the execution of a definitive agreement to farm into the Block 29 development offshore Mexico, operated by Repsol, S.A. (Repsol). Talos will acquire a 50% working interest for a contingent $30 million payment at final investment decision (FID), a cash carry of...
Royal Philips Q2 Income From Continuing Operations, Sales Rise
Royal Philips Q2 Income From Continuing Operations, Sales Rise
Jul 27, 2026
03:46 PM EDT, 07/27/2026 (MT Newswires) -- Royal Philips (PHG) reported Q2 income from continuing operations Monday of 609 million euros ($692.4 million), up from 400 million euros a year earlier. Sales for the quarter ended June 30 were 4.4 billion euros, compared with 4.3 billion euros a year earlier. Analysts polled by FactSet expected 4.31 billion euros. For 2026,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved