Distressed Chinese real estate developer Yuzhou Group Holdings Co. won tentative US bankruptcy court recognition to enforce its Hong Kong restructuring.
Judge Lisa G. Beckerman of the US Bankruptcy Court for the Southern District of New York said at a hearing Wednesday that she would approve the uncontested Chapter 15 proposal after certain revisions are made to a final order.
The foreign restructuring plan reduces the company’s offshore debt by nearly $2.2 billion, according to court records.
The real estate and hotel developer sought Chapter 15 relief in August 2024 after facing financial problems stemming from larger issues in Asia’s ...
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