Struggling Chinese property developer Kaisa Group (1638.HK) said creditors would get less than 5% of their money back if it is forced into liquidation, a lawyer for one creditor who is suing the company told a Hong Kong court on Tuesday. Broad Peak Investment filed a winding-up petition against Kaisa in July in the Hong Kong High Court in relation to non-payment of onshore bonds worth 170 million yuan ($23.28 million).

Bain Capital has put off its plans for an initial public offering of Virgin Australia airline to next year, Reuters reported. The U.S.-based private equity firm will consider listing in 2024 after assessing market conditions. Bain said in January that it would explore re-listing Virgin, which it bought for A$3.5 billion ($2.45 billion) including liabilities in 2020 after it was placed in voluntary administration, the closest Australian equivalent to chapter 11 bankruptcy.

Three Arrows Capital co-founder Su Zhu ended up in jail in Singapore after liquidators decided to apply maximum pressure following months of sparring over locating the failed crypto hedge fund’s assets, Bloomberg News reported. Days after securing a Singapore court order carrying a four-month prison term for failing to cooperate with the task of winding up the fund, liquidators tipped police off on Sept. 29 that Zhu was headed to Changi Airport.

A group of offshore creditors of China Evergrande Group said they were “left in the dark” after the developer scrapped a meeting for its multi-billion dollar restructuring plan, in the latest example of investor frustration with governance issues at some Chinese firms, Bloomberg News reported.

Investors looking to make big bets on Turkish assets will have to wait longer for the country’s policymakers to meet one of their key demands — the lifting of restrictions on the offshore currency swaps market, Bloomberg News reported. Turkish authorities won’t ease a cap on swaps deals in the near-term amid concerns over a weakening lira, according to people with knowledge of the discussions. Removing the cap on overseas lira supply at this point could risk an increase in short-selling activity, which the nation’s economic leadership is concerned about, they said.

Workers at Chevron Corp. liquefied natural gas facilities in Australia plan to resume strikes, sending prices higher on the threat of tighter supplies as the winter heating season approaches in the Northern Hemisphere, Bloomberg News reported. Union members at Chevron’s Gorgon and Wheatstone plants voted for further industrial action after suspending stoppages last month, according to the Offshore Alliance, which represents labor groups. Benchmark gas futures in Europe settled 5.6% higher, the most since Sept. 25.

India has amended its insolvency law to exclude leased aircraft from assets that can be frozen, a long-awaited move expected to shore up the financing of its fast-growing airline industry by addressing discrepancies between global and local rules, Reuters reported. The rule change, disclosed in a government notice on Wednesday, aims to bring India's bankruptcy laws into line with a treaty protecting the rights of foreign lessors, following a dispute over the bankruptcy of budget airline Go First.

As developer China Evergrande Group lurched from one crisis to another over the past two years, Beijing avoided directly intervening to rescue what was not too long ago considered one of the country's "too big to fail" enterprises, Reuters reported. With the world's most indebted developer now standing at the precipice after authorities launched a criminal investigation into its billionaire founder, some creditors, investors and analysts are now betting on authorities stepping in to manage the fallout.

Sunac China Holdings Ltd. won court approval for its multibillion-dollar offshore debt restructuring plan, clearing the last key hurdle for it to become the country’s first major developer to overhaul such liabilities, Bloomberg News reported. Hong Kong Judge Jonathan Harris’ sign-off Thursday sets Sunac apart from major industry peers including China Evergrande Group. still struggling to find a viable debt-restructuring road map as an unprecedented housing crisis unfolds.

Hong Kong’s securities regulator and police force set up a task force to assist with the detection of suspicious activity at crypto exchanges, intensifying oversight of the industry after the blowup at the JPEX platform, Bloomberg News reported. The working group comprised of the city’s Securities and Futures Commission and law enforcement officials will “enhance collaboration in monitoring and investigating illegal activities related to virtual-asset trading platforms,” the financial watchdog said in a statement late Wednesday.