A secured creditor of Chinese developer Xinyuan Real Estate Co. Ltd.'s bankrupt subsidiary is challenging the company’s exit plan in light of the Supreme Court’s decision this week on third-party releases, saying it risks limiting the creditor’s recovery and unfairly releases the company’s owners.
Hudson 888 Owner LLC’s plan would release claims against the company’s owners, who are responsible for payment on two contested loans worth $106 million, without its consent, the creditor said.
On Thursday, a major Supreme Court decision in the Chapter 11 case of Purdue Pharma found that third-party releases of the Sackler family in that case ...
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