May 26 (Reuters) - Country Garden 2007.HK said on Monday the Hong Kong High Court has adjourned a hearing into a liquidation petition against it until August 11, a move that would allow the Chinese property developer more time to get support from its bank creditors.
The company defaulted on its offshore debt in late 2023 and is now in a restructuring process that aims to cut $14.1 billion of that debt by 78%.
(Reporting by Shivangi Lahiri and Clare Jim; Editing by Nivedita Bhattacharjee)
((clare.jim@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.