A Country Garden managed to postpone the judgment on the company’s liquidation in a Hong Kong court until May 26 this year, according to a statement released this Monday (20) by the company, claiming to have support from its creditors.
In a note, it also informed that share negotiations will remain suspended indefinitely.
According to Reuters, one of Country Garden’s lawyers said the company hopes to reach an agreement with creditors on the restructuring of its offshore debt – valued at US$16.4 billion – by the end of February and deliver the terms for approval. from court until April.
The statements and the decision to postpone the trial took place in a session this Monday so that the court of Hong Kong assess the progress of the restructuring, before deciding on the developer’s liquidation petition.
