China debt crunch
Hong Kong company Kingboard had petitioned against developer over unpaid loan
A Country Garden development in Shanghai: The Chinese property company is restructuring its debt after it defaulted on a dollar bond in 2023. © Reuters
LORRETTA CHEN
February 16, 2026 12:59 JST
HONG KONG — A Hong Kong judge on Monday dismissed a winding-up case against cash-strapped Chinese property developer Country Garden, removing a last barrier to the company’s restructuring of over $14 billion in offshore debt.
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