China Builder Logan Gets Respite as Creditors Seek to Drop Case

Chinese developer Logan Group Co. obtained fresh breathing room after creditors expressed an intention to withdraw court petitions to liquidate two key units, a sign that the defaulter is making headway on its restructuring talks.

A lawyer representing creditors of the units told a Hong Kong court on Monday they plan to drop the so-called winding-up petitions, which were first filed in 2022 by Citicorp International Ltd., a trustee for some Logan dollar bonds. The court decided to adjourn its hearing of the cases until Jan. 15 from Monday, when the session was originally scheduled.

The court’s decision came ...