A mainland property investment group which once spent $449 million to buy control of the Seaworld amusement park group from Blackstone, saw one of its prized assets sold on Taobao this past week, as China continues to sweep up the… Read More>>
Mainland Developer Announces Default on RMB 2.27B in Debt as White Knight Goes Dark
Zhonghong Holdings, the real estate developer controlled by tycoon Wang Yonghong announced last week that it had defaulted on RMB 1.1 billion ($160 million) in credit obligations in the month of July, bringing the Beijing-based company’s total past-due obligations to… Read More>>
Defaulting Developer’s RMB 1.4B Deal with Kaisa Held Up by Shenzhen Exchange
Less than three months after revealing that it had defaulted on more than RMB 1.1 billion ($174 million) in debts, beleaguered Chinese real estate developer Zhonghong Holdings is struggling to explain a deal with Shenzhen-based Kaisa Group that could bring… Read More>>
