Powerlong Real Estate Unit Faces Liquidation Application Over Unpaid Debt

MT Newswires Live

03/10

Powerlong Real Estate Holdings' (HKG:1238) subsidiary Powerlong Real Estate (BVI) Holdings is facing a liquidation application filed in the Eastern Caribbean Supreme Court in the Virgin Islands.

The petition, brought by Oasis Management, AM Asia Strategies, and PAG-P Asia Fund, relates to an alleged non-payment of $198.8 million in senior bonds due August 2024.

The hearing is set for April 28. Powerlong is negotiating with creditors and seeking legal measures to oppose the application, emphasizing its commitment to sustainable operations.

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Powerlong is negotiating with creditors and seeking legal measures to oppose the application, emphasizing its commitment to sustainable operations.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"01238","symbol_name":"宝龙地产","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2518248610","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2518248610","pubTimestamp":1741600610,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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