A bankrupt subsidiary of Chinese developer Xinyuan Real Estate Co. Ltd. is challenging its sole secured creditor’s $106 million debt claims, saying they include improper interest and other charges.
Hudson 888 Owner LLC and its lenders have clashed over the validity of the company’s Chapter 11 filing. The bankruptcy, filed in January as China grappled with real estate distress, followed the company’s mortgage loan defaults. Hudson alleged in a Tuesday court filing in the US Bankruptcy Court for the Southern District of New York that its lenders’ claims are “significantly overstated.”
The lenders, referred to as DOF II-Bloom Senior LLC ...
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