China Builder Logan Faces Renewed Liquidation Risk in Hearing.

HONG Kong (China); CHINA

Chinese builder Logan Group Co. is facing the risk of involuntary liquidation, similar to its competitor China Evergrande Group. Logan is seeking to convince Judge Anthony Chan in a Hong Kong court hearing that its restructuring plan, which includes cash and convertible bonds, is viable and has enough creditor support. The court's recent decision to wind up Evergrande has raised questions about its enforceability in mainland China and has reminded creditors that they can find a fair judicial ear when restructuring negotiations stall. A key point of contention in the hearing will be determining the creditor formally pushing for liquidation. [Extracted from the article]

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