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A Hong Kong court has awarded a trustee enforcing obligations under a keepwell deed more than US$489 million after finding the keepwell provider to be in breach. The decision by the...
(Bloomberg) -- A Hong Kong court ruled that Tsinghua Unigroup Co. breached a payment support agreement tied to dollar bonds, marking a key victory for creditors in a broader legal dispute over a practice long used by Chinese firms to raise debt. Most Read from BloombergSocial Security Benefits Targeted for Cuts by House ConservativesA Goldman Partner’s Sexually Explicit Video Led to Millions in SettlementStock Rally Is Deepening Beyond AI-Fueled Craze: Markets WrapUS Submarine Damaged in South C
By Addison Gong 08.30 AM In this round-up, China’s macro leverage drops on a year-on-year basis for two consecutive quarters, Ping An Insurance Group plans to invest up to Rmb50.75bn ($7.84bn) in troubled conglomerate Peking University Founder Group, and the securities regulator has put more weight on the pre-listing education process of domestic IPO candidates. China held a politburo meeting last Friday. The country’s macro policies will be “consistent, stable, sustainable” and have “no sharp turns”, notes from the meeting said. Prudent monetary policies will be adopted to mainta...