Chinese conglomerate HNA Group has put up for sale property assets worth at least $11 billion, according to documents seen by Reuters, accelerating a push to cut its large debt and restructure, the International New York Times reported on a Reuters story. Two sets of documents reviewed by Reuters listed more than 80 assets that HNA has either put up for sale or intends to sell, including hotels, commercial and residential buildings. They are mostly within China, with the bulk of them located in Hainan Island, where HNA is headquartered.

India’s top court has set new norms for the country’s bankruptcy law in an attempt to speed up the resolution of billions of dollars worth of soured loans weighing down banks, Bloomberg News reported. The Supreme Court on Thursday set mandatory timelines for the various stages of the insolvency resolution process, which the law says must be concluded in 270 days, and imposed restrictions on when and why the process can be appealed or stalled.

Singapore is giving liquidators of insolvent companies a new tool to retrieve funds for bondholders and other creditors, Bloomberg News reported. Court-appointed managers will now be able to seek funding from investors unrelated to the case to pay the cost of pursuing claims, in exchange for part of the proceeds. That change came under the Insolvency, Restructuring and Dissolution Act, which was passed by lawmakers on Oct. 1.

Hyflux Ltd., the embattled Singapore water-treatment and power company, is in advanced talks with at least two potential investors about taking a strategic equity stake in the group as part of a restructuring plan, Bloomberg News reported. The discussions with these investors are taking place concurrently with efforts to sell its desalination plant known as Tuaspring, its legal adviser WongPartnership LLP said in an update during a case management hearing in court Monday. Hyflux has an Oct. 15 deadline to sell the plant, which is Southeast Asia’s biggest.

Xinjiang Production Construction 6th Shi State-owned Assets Management is an agricultural trader and producer that traces its history to Chairman Mao’s efforts to develop China’s far-flung frontiers. It is also emblematic of the difficulties facing the country’s debt-ridden local government financing vehicles (LGFVs) as China’s central authorities attempt to convince investors that the bonds can default, according to HSBC, Bloomberg News reported. The company missed payment on a yuan-denominated issue in August, only to fully repay two days later.

History does not repeat itself, but it does rhyme. Jim Leaviss of Bond Vigilantes has dug out his missives in the months before Lehman Brothers imploded in 2008, and found some ominous similarities, the Financial Times reported in a commentary. The market was obsessing about oil prices, then on their way to $140 a barrel, while the European Central Bank was tightening monetary policy. All that is needed for a hat-trick today, says Mr Leaviss, is a “credit accident”, and for good measure, he notes that the biggest difference between then and now is the level of debt.

Investors in Indian equity funds held tight and even bought more last month, seemingly unfazed by the selloff triggered by a tumbling currency and a crisis at a troubled lender, Bloomberg News reported. Stock funds took in 111 billion rupees ($1.5 billion) in September, the most since May, up from 83 billion rupees in August, data from the Association of Mutual Funds in India show.

Infrastructure Leasing & Financial Services Ltd. is missing more debt obligations, even as the Indian government pledged to prevent further defaults, underscoring the challenges its new board faces in fixing the firm’s mounting debt problems, Bloomberg News reported. IL&FS failed to service principal and interest on loans from banks, inter-corporate deposit and commercial papers totaling 339 million rupees ($4.6 million) due for the period from Sept. 30 to Oct. 4, it said in an exchange filing.

The jewel gathering dust in India’s bankruptcy court can have a suitor after all. The two top bidders may stay in the race for Essar Steel India Ltd.’s 10 million-tons-a-year plant, the country’s top court ruled on Thursday, provided they first make banks whole, a Bloomberg View reported. There’s the catch. For ArcelorMittal, the payment required is for two unconnected defaults. The world’s biggest steel producer and Lakshmi Mittal, its billionaire controlling shareholder, sold their interest in Uttam Galva Steels Ltd. and KSS Petron Pvt. to become eligible to acquire Essar.