China Cinda Unit Files Winding Up Petition Against Sunac China

MT Newswires Live

2025/01/10

China Cinda Asset Management (HKG:1359) unit China Cinda (HK) Asset Management filed a winding up petition against Sunac China (HKG:1918), according to a Friday disclosure with the Hong Kong Exchange.

The hearing is set for March 19, according to the filing.

Earlier, Sunac China reportedly told some creditors it had difficulty paying part of its restructured bonds due in September, according to a Reuters report.

The indebted developer restructured offshore debt worth $9 billion in November, following a debt crunch in 2021, the report said.

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