China Builder Xinyuan’s Manhattan Condo Debt Plan Confirmed (1)

A US bankruptcy court has confirmed the reorganization plan of Chinese builder Xinyuan’s subsidiary, Hudson 888 Owner LLC, according to court papers filed on Wednesday.

• The company’s sole asset is Bloom on Forty-Fifth Condominium, a real estate project located at 500 West 45th Street in Manhattan, according to earlier papers
  • Part of the plan will see the company transfer ownership of residential units in the condo to the senior secured creditors
• The plan faced challenges from some lenders, who said the proposal unfairly releases the company’s owners
  • The lenders and the company had disputes over debt agreements before the ...