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Country Garden Holdings, one of the biggest casualties of China’s real estate crisis, is wrapping up its US$14.1 billion offshore debt restructuring after more than two years, with creditors likely to approve its plan in a vote on Wednesday (Nov 5), Bloomberg News reported. The vote represents a milestone for the developer after years of negotiations as it sought to avoid the fate of its peer China Evergrande Group, which was ordered to liquidate in 2024. It’s also a sign of some stability amid a years-long property slump that has triggered US$130 billion of defaults.
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A private gauge of China’s manufacturing activity showed Chinese factories continued to expand production in October, albeit at a slower pace, signaling weaker growth momentum heading into the fourth quarter of the year, the Wall Street Journal reported. The RatingDog China General Manufacturing Purchasing Managers’ Index, compiled by S&P Global, declined to 50.6 last month from 51.2 in September, according to a statement released on Monday.
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Hong Kong authorities have charged 16 people, including influencer and former lawyer Joseph Lam Chok, over their alleged involvement in the $205 million (HK$1.6 billion) JPEX crypto fraud, Decrypt.com reported. The suspects were accused of fraud, conspiracy to defraud, and money laundering under Hong Kong’s anti-money-laundering law after a two-year investigation into the unlicensed exchange, according to a report from South China Morning Post.
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Nidec Corp. secured a ¥600 billion ($3.9 billion) credit line from MUFG Bank Ltd. and SMBC, easing concerns about potential liquidity strains at the maker of precision motors amid an ongoing probe into accounting issues, Bloomberg News reported. The commitment line agreement comprises two bilateral contracts of ¥300 billion each, unsecured and unguaranteed, with a contract period valid for one year from Nov. 7. Nidec’s stock rose as much as 5% early Wednesday.
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From the launch of new products and services in Japan to facilitating leveraged trading bets, crypto exchanges and some financial firms are rushing to cash in on rising investor enthusiasm for digital assets amid hopes of easing regulations, Reuters reported. The recent surge underscores a higher appetite for riskier investments in Japan as inflation outpaces wage growth and overrides a wariness around crypto investments that followed serious security breaches at exchanges in 2014 and 2018.
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The Supreme Court in India on Friday agreed to hear on Monday an appeal by U.S.-based Glas Trust Co. against Aakash Educational Services' move to conduct a rights issue that would reduce Byju's parent Think & Learn's stake from 25.75% to below 5%, the Economic Times reported. Glas Trust, a U.S.-based lender to Think & Learn and a member of its committee of creditors (CoC), has moved the top court, challenging a National Company Law Appellate Tribunal's order that refused to stay Aakash's EGM on October 29.
A virtual hearing between Victory Shipping Pte Ltd. and Integr8 Fuels Pte Ltd., organised by the High Court of the Republic of Singapore, is scheduled to take place on Tuesday (14 November), the Manifold Times reported. The event is to set aside a statutory demand served on 3 October 2025 by Integr8 Fuels lawyers under Section 125(2)(c) and Section 10 of the Insolvency, Restructuring and Dissolution Act 2018 (IRDA) against Victory Shipping, according to court documents obtained by the bunkering publication.
The Rose Bay investment property of bankrupt hospitality entrepreneur Jon Adgemis has been sold for $12 million, after nearly two months on the market, according to a now-removed listing on the Cotality website, the Greek Herald reported. The six-bedroom, five-bathroom home, purchased by Adgemis and his mother Rose in 2018 for $4.45 million, had been occupied by family members. Adgemis’ bankruptcy trustee, Andrew Yeo of Pitcher Partners, has advised that an update to creditors is expected in early November.