Chinese Real Estate Company Hengda Files for Bankruptcy Protection in New York Court
Chinese real estate developer Hengda Group filed for 'Chapter 15' bankruptcy protection in a New York court on the 17th (local time), Bloomberg reported on the 17th (local time).
![[Image source=Yonhap News]](http://www.asiae.co.kr/news/img_view.htm?img=2021100719415458295_1633603314.jpg)
According to Bloomberg and other foreign media, Hengda is believed to have made this decision to secure time for restructuring and debt repayment.
The Chapter 15 bankruptcy protection applied for by Hengda is a regulation that protects foreign companies from debt repayment demands and lawsuits by creditors within the United States during the rehabilitation process.
Hot Picks Today
!["Rather Than Endure a 1.5 Million KRW Stipend, I'd Rather Earn 500 Million in the U.S." Top Talent from SNU and KAIST Are Leaving [Scientists Are Disappearing] ①](https://cwcontent.asiae.co.kr/asiaresize/93/2026051914165468840_1779167814.png)
"Rather Than Endure a 1.5 Million KRW Stipend, I'd Rather Earn 500 Million in the U.S." Top Talent from SNU and KAIST Are Leaving [Scientists Are Disappearing] ①
- "Not Jealous of Winning the Lottery"... Entire Village Stunned as 200 Million Won Jackpot of Wild Ginseng Cluster Discovered at Jirisan
- "I'll Stop by Starbucks Tomorrow": People Power Chungbuk Committee and Geoje Mayoral Candidate Face Criticism for Alleged 5·18 Demeaning Remarks
- Japanese Foreign Ministry: "CPTPP Not Discussed at Korea-Japan Summit"
- "How Did an Employee Who Loved Samsung End Up Like This?"... Past Video of Samsung Electronics Union Chairman Resurfaces
Previously, Hengda Group defaulted in 2021, plunging the Chinese real estate market into crisis.
This content was produced with the assistance of AI translation services.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
