BRIEF: Kaisa liquidation hearing adjourned to March

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Real estate developer Kaisa Group Holdings Ltd (1638.HK) announced that it has successfully petitioned the High Court in Hong Kong to postpone a hearing on its potential liquidation originally scheduled for Sept. 9 to March 31 next year.

Kaisa did not disclose which of its creditors petitioned for the liquidation in its latest filing. But it previously said in March that Citicorp International applied to the Hong Kong High Court to liquidate the company after Kaisa failed to repay principal and interest on a $750 million loan due in 2023. Kaisa has repeatedly sought to delay the liquidation hearing.

By Lau Chi Hang

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