Property Developer China Aoyuan Filed for Chapter 15 Bankruptcy in New York with $6 Billion Liabilities & Undergoing Restructuring in Hong Kong, Cayman Islands & British Virgin Islands, Chapter 15 Grants Recognition to Non-United States Proceeding Including Debt-Restructuring & Allows Cooperation Between United States Court & Foreign Court on United States Assets
22nd December 2023 | Hong Kong
Property developer China Aoyuan had filed for Chapter 15 Bankruptcy (20/12/23) in New York. In 2022, China Aoyuan reported $6 billion liabilities and is currently undergoing restructuring in Hong Kong, Cayman Islands & British Virgin Islands. Chapter 15 Bankruptcy grants recognition to non-United States proceeding including debt-restructuring & allows cooperation between United States court & foreign court on United States assets. China Aoyuan has a current market capitalization of $77 million (21/12/23: HKD 602 million).
“ Property Developer China Aoyuan Filed for Chapter 15 Bankruptcy in New York with $6 Billion Liabilities & Undergoing Restructuring in Hong Kong, Cayman Islands & British Virgin Islands, Chapter 15 Grants Recognition to Non-United States Proceeding Including Debt-Restructuring & Allows Cooperation Between United States Court & Foreign Court on United States Assets “
Property Developer China Aoyuan Filed for Chapter 15 Bankruptcy in New York with $6 Billion Liabilities & Undergoing Restructuring in Hong Kong, Cayman Islands & British Virgin Islands
China Aoyuan
Headquartered in Guangzhou, China Aoyuan Group Limited (“Aoyuan” or the “Company”) is listed on the Main Board of The Stock Exchange of Hong Kong Limited, under the stock code 3883. Since established in 1996, Aoyuan has developed into an enterprise group with asset of over RMB100 billion extending the businesses into property development, commercial operation, urban redevelopment, general wellness and medical beauty, cultural tourism and technology. Aoyuan recorded property contracted sales of RMB121 billion in 2021, while being included in “Fortune China 500” for five consecutive years since 2017.
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