Real Estate
Liquidators Struggle to Recover Cash From China’s Broke Builders
- Poor recovery raises questions as more court cases line up
- Funding, access to documents, jurisdiction complicate process
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Liquidators trying to recoup at least a fraction of creditors’ investments in defaulted Chinese builders are running into dead-ends.
They have encountered a host of challenges, from trying to get paid to scouring for financial documents and elusive executives, according to people with knowledge of the matter. Creditors in three cases, including Sinic Holdings Group Co. and Yango Justice International Ltd., haven’t seen any significant distribution, they said, declining to be identified discussing private matters.