Justice Linda Chan adjourned the case until May 26 after hearing a petition from Ever Credit, a unit of Hong Kong-listed Kingboard Holdings, which makes laminates and chemicals.
At the hearing, Ever Credit asked the judge to grant an immediate liquidation order, while another creditor requested a four-week adjournment. Country Garden’s lawyer, Jose-Antonio Maurellet, told the court that the company needed another four months, but it should be able to agree on a term sheet with creditors by the end of February.
In a statement last week, Country Garden said it expected to reach an agreement with offshore creditors on a debt restructuring plan in the first half of 2025.
Earlier this month, the Foshan-based developer released its first…
