Chinese Developer Troubles Deepen as Dexin Gets Liquidated (1)

The list of Chinese developers facing court-ordered liquidation in Hong Kong is getting longer, after a builder of homes in an affluent eastern coastal region was ordered to wind up.

Dexin China Holdings Co. received the order Tuesday, three months after a petition was filed by China Construction Bank (Asia), and a year and half after it defaulted. A new restructuring plan was approved last year, though the developer, which builds residential as well as commercial buildings, wasn’t able to keep up with that either.

Hong Kong has served as a gateway for investors to access mainland issuers’ high-yield offshore ...