Creditors Seek to Force Chinese Builder Xinyuan into Bankruptcy

Creditors of Chinese developer Xinyuan Real Estate Co Ltd. are seeking to force the company into bankruptcy protection in New York in order to collect on bonds that were due last year, according to a court filing.

The bondholders — Cithara Global Multi-Strategy, Mars Partner Limited and Star Freight & Trading Co. — are owed $65.8 million, the creditors said in an involuntary Chapter 11 petition filed Monday evening.

Xinyuan is among the many Chinese developers rocked by financial turmoil in recent years. In 2022 the company missedan interest payment and later failed to pay off $170 million in ...