For a foreign proceeding to be recognized under the UNCITRAL Model Law on Cross-Border Insolvency ("Model Law") and its offspring, chapter 15 of the Bankruptcy Code.
China Fortune Land s Bond Investors Get Only Partial Payment bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Embattled £236billion Chinese property developer Evergrande Group is on the brink of collapse but one detail of its debt restructuring has surprised many. It is filing for bankruptcy in New York rather than China.
The move protects it from creditors in the US while it works on a restructuring deal elsewhere. The Chinese homebuilder s Chapter 15 petition references restructuring proceedings being carried out in Hong Kong and the Cayman Islands.
China Evergrande files for protection in US court as part of $32bln debt overhaul zawya.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zawya.com Daily Mail and Mail on Sunday newspapers.