China’s real estate giants are facing unprecedented pressure as Hong Kong courts become the primary battleground for resolving billions in offshore debt disputes. As developers from Evergrande to Country Garden fight desperately for survival through complex restructuring schemes, lawyers in the SAR say the jurisdiction’s established legal framework offers international creditors their best chance at recovery.
Hong Kong’s courts have emerged as primary venue for resolving disputes between China’s developers and their international creditors, as a wave of winding-up petitions work its way through the courts and developers struggle with billions in offshore debt. The crisis marked a dramatic reversal for an industry that once powered…