Creditors of XJ International Holdings Co. are looking for another shot at recouping funds, as a bond trustee appeals a Hong Kong court’s decision to dismiss a liquidation petition against the Chinese education firm.
The case had been tossed on technical grounds last year, over a dispute about the exercise of a put option. On Thursday, lawyers for Bank of New York Mellon, London Branch, a trustee of XJ’s $315 million convertible bond, argued that the court should look at things from a commercial perspective and not focus on technicalities, saying that a contract is not a word ...
