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This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
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This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
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This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
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This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
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This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
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Chinese electric vehicle maker Human Horizons Group Inc., the company behind the premium HiPhi brand, has filed for pre-bankruptcy restructuring — becoming another victim of China’s cutthroat auto market, Bloomberg News reported. The manufacturer lodged an application to a People’s Court in Yancheng, the eastern Chinese city where its factory is located, saying its assets could no longer cover debt as of April and fulfilled the conditions for a bankruptcy, according to a court document published Thursday.
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Kaisa Group Holdings Ltd. will square off with creditors in a crucial hearing Monday over its fate, facing a court that may be open to winding up one of the largest Chinese developers, Bloomberg News reported. Sued by its creditors to liquidate after a 2021 bond default, Kaisa has been fighting against their efforts for about a year without publicly presenting a restructuring plan. The lack of progress drove Judge Peter Ng of Hong Kong’s High Court to warn the Shenzhen-based company in June that Monday’s hearing might be its last chance to avoid being put into involuntary liquidation.
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