China Builder Redsun’s Parent Faces Liquidation Court Petition
- Company joins a growing list of peers facing legal challenge
- Firm and Redsun are guarantors of a defaulted dollar bond
This article is for subscribers only.
The parent of Chinese developer Redsun Properties Group Ltd. has received a winding-up petition in a Hong Kong court, joining a growing list of the country’s distressed firms facing legal threats in the city.
The court is scheduled to hold a hearing of the petition against Hong Yang Group Co. on March 27, according to the city’s judiciary website. Serica Agency Ltd. is the other involved party in the case.