SHANGHAI: Defaulted Chinese developers facing key court dates in the coming weeks received an abrupt reminder that actions, not words, count in restructurings if you want to avoid getting liquidated. Jiayuan International Group Ltd, a residential and commercial builder focused on areas northwest of Shanghai, received a winding-up order from a Hong Kong court last week despite having launched a debt exchange offer. That made it the first developer during China's property crisis to face court-ordered liquidation after public efforts to restructure debt.

http://klse.i3investor.com/web/blog/detail/kianweiaritcles/2023-05-09-story-h-271447498-China_builders_with_lawsuits_get_wake_up_call

#i3investor