08 Apr Shimao Group faces winding-up petition from China Construction Bank, signalling developer is in ‘serious debt trouble’
Posted at 04:18h
in Asia
Shimao urged its offshore creditors to “carefully consider” the restructuring plan put forward on March 25, in which it presented four options including short-term and long-term notes offering an aggregate principal amount of no more than US$4 billion, according to an earlier stock exchange filing.“This...