TOKYO: A Japanese hotel chain, once at the centre of a bidding war between US private equity firms Blackstone Inc and Lone Star Funds, faces a reckoning with its creditors. Unizo Holdings Co became the first Japanese company to default on its bonds in six years when it filed for a court-supervised restructuring in April. The firm, which has hotels and office buildings, said it didn't have the money to pay debt worth 10 billion yen maturing in May. Several of the country's regional banks warned they may not get repaid.

http://klse.i3investor.com/web/blog/detail/kianweiaritcles/2023-05-03-story-h-271599361-Once_hot_M_A_target_in_court_to_restructure_debt

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