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)