Hong Kong-based investment firm Kaisa Group Holdings Ltd. is seeking recognition of a foreign restructuring proceeding in a US bankruptcy court as it faces significant cash-flow and liquidity constraints.
The company—which invests in property development, tourism, health care and international education—filed its Chapter 15 petition April 10 to pause a New York state court proceeding brought by a purported beneficial holder of secured notes worth $90 million overall.
Allowing the litigation from Oasis Investments II Master Fund Ltd. against Kaisa and another investment firm to go forward could result in a $20 million judgment that would cause a default under ...
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