Sunac Creditor Tells Court Company Has No Feasible Debt Plan

A key creditor of defaulted Chinese builder Sunac China Holdings Ltd. told a Hong Kong court that the company hasn’t offered any terms for a new offshore restructuring, despite saying that it intended to pursue such a plan.

Lawyers for China Cinda HK Asset Management Co., which has filed a petition seeking the developer’s liquidation, asked the court on Monday to issue an immediate winding up order against Sunac.

Sunac’s lawyers said the company needed more time to develop its plans and asked the judge to grant a four-month adjournment.

The judge said he would like to give the ...