S&C’s finance and restructuring team in Hong Kong successfully assisted creditors in reaching important milestones in the offshore restructurings of two Chinese companies.
The High Court of Hong Kong sanctioned a scheme of arrangement proposed by Golden Wheel Tiandi Holdings Company regarding its debt of approximately US$507 million. Golden Wheel is principally engaged in property development, property leasing and hotel operation in China.
In a separate transaction, a group of noteholders of property developer China SCE Group Holdings reached an agreement with the company regarding the restructuring of its US$2.3 billion offshore debts. China SCE is a real estate developer focused on property development, investment and management and land development in China.
The S&C team is led by Jacqueline Tang and key members include Zoey Zhang and Steve Lee.