Investors in China’s real estate market scrambled to figure out which investments might be safe today as a total of six real estate developers are now said to have had sales frozen by the government. The unexplained official crackdown now… Read More>>
Kaisa Accounts Frozen as Creditors Try to Claw Back Cash
Attempts by Kaisa Group to stonewall its creditors in the face of serial defaults appear to be backfiring after bank accounts belonging to the Hong Kong-listed developer were frozen, and bond-holders began banding together for legal action.
The defaulting developer’s… Read More>>
Banks Now Suing Kaisa in Shenzhen Court – Seek to Seize Projects
The credit problems facing Kaisa Group continue to deepen as it was revealed today that at least three financial institutions, including Chinese state-owned banks, are suing the troubled real estate developer and seek to seize the company’s projects.
According to… Read More>>
Kaisa Defaults on $500M Bond Payment, Spooks Debt Markets
Chinese real estate developer Kaisa Group dug itself still deeper into default yesterday when the Hong Kong-listed company failed to make $26 million in interest payments due on offshore bonds.
The bond default is Kaisa’s second failure to meet debt… Read More>>
HK-Listed Kaisa Said to Go Bankrupt — Halt Payments to Creditors
Kaisa Group, which defaulted on a $51.6 million loan last week, is said to have become the biggest of China’s real estate developers to go bankrupt today when the Hong Kong-listed company decided that it was ceasing all activities until it could… Read More>>
Could China Be About to Experience Its Biggest Ever Real Estate Bankruptcy?
Kaisa Group Holdings may be in danger of becoming the biggest Chinese real estate developer to collapse as a result of the country’s property slump, after the Hong Kong-listed company defaulted on a HK$400 million ($51.6 million) loan on Wednesday.
Chairman of Kaisa Steps Down After Sales Frozen and Stock Drops 34%
The chairman of Kaisa Group Holdings, Kwok Ying-shing, resigned from his posts with the China real estate developer after government actions and questions about the company’s viability caused its shares to slide more than 34 percent in the last few… Read More>>
Shares in Kaisa Group Down More Than 9% After Trading Halt
Shares in Kaisa Group Holdings are down by more than nine percent after the company revealed that the Shenzhen government had frozen sales at three of its projects and the company’s largest shareholders scaled back their stake in the Chinese real estate… Read More>>
Low Level Chinese Official Caught with RMB 120M Cash, 37 Kg of Gold and 68 Houses
Ma Chaoqun never amounted to much in the ranks of China’s government, but this mid-level manager who spent decades at a state-run water company in Hebei seems to have made the most of it, and then invested the most of… Read More>>
Most New China Developer Bonds Now Trading Below Issue Price
As a credit crunch caused the collapse of a private Chinese real estate developer this week, and following just two weeks after the country’s first commercial bond default, dollar-denominated bonds from the country’s real estate developers are suffering on regional… Read More>>
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