Builder Kaisa Seeks Court Approval to Hold Vote on Restructuring

Defaulted developer Kaisa Group Holdings Ltd. plans to seek a court order in Hong Kong later this year to hold a creditor vote on its restructuring plan.

Kaisa applied for a Dec. 19 hearing before Judge Linda Chan, where it aims to obtain permission to convene a meeting for the vote, according to a court document dated Sept. 6.

While court approval for the vote is a procedural step, clearing it is crucial for Kaisa’s efforts to gain backing for its overall debt plan. The company last month struck a restructuring deal with a key creditor group and is ...