It was reported that Country Garden (02007.HK) plans to apply to the High Court to postpone the liquidation hearing
Bloomberg quoted sources as reporting that Country Garden (02007.HK) plans to apply to the Hong Kong High Court this week to postpone the liquidation hearing until later this year to allow the company more time to win creditors 'support for the restructuring plan.
The next winding up hearing was originally scheduled to be held on August 11, and whether and for how long it will be adjourned will be decided by the court. It was previously rumored that Country Garden agreed to some restructuring terms for major bank creditors last month, hoping to get bank creditors to sign a broader restructuring agreement.
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