Chinese developer Logan Group seeks to postpone Dec 4 liquidation hearing – state media

SHENZHEN, China (Reuters) – Property developer Logan Group is seeking to adjourn a liquidiation hearing at the Hong Kong High Court scheduled for Monday on the grounds it has not yet agreed a debt restructuring plan with overseas creditors, Chinese state media The Paper reported on Saturday.

The Shenzhen-based company said last year it would suspend interest payments and restructure its offshore debt including $3.7 billion in dollar bonds due to liquidity pressure.

Logan and two of its subsidiaries received a winding-up petition in November 2022 filed by the bond trustee who represents a few investors holding the 5.75% 2025 bond.

Logan Group did not immediately respond to a Reuters request for comment by email or answer a phone call outside of regular business hours.

Embattled developer China Evergrande Group also faces a wind-up hearing at the same court on Monday, with Justice Linda Chan saying in October it would be the last before a decision is made on liquidating the company.

(Reporting by David Kirton; Editing by Lincoln Feast.)