CDL’s Sincere unit in China may undergo court-led restructuring – The Straits Times

BEIJING Chongqing Sincere Yuanchuang Industrial, a cash-strapped Chinese developer owned by Singapore’s richest property family, may undergo a court-led restructuring after a bankruptcy application was filed against it, according to sources familiar with the matter. Sincere Property Holdings, the second largest shareholder of Chongqing Sincere, is preparing to work with stakeholders and creditors on a…

Sackler family moves closer to OxyContin settlement as key states drop opposition – The Washington Post

The resolution calls for an additional $50 million from the family and acceleration of some milestone payments, according to the mediation document. In all, the contribution from the Sacklers will be about $4.5 billion over nine years. Purdue Pharma, which has not actively marketed OxyContin for two years, will be wound down or sold by…

Jaypee insolvency: IRP files Suraksha groups resolution plan with NCLT – Business Standard

Jaypee Infratech’s Interim Resolution Professional (IRP) Anuj Jain has filed Suraksha group’s bid, which was recently approved by financial creditors, with the National Company Law Tribunal. In a regulatory filing on Thursday, the company informed that the IRP on July 7 filed “the resolution plan of Suraksha Realty Ltd along with Lakshdeep Investments and Finance…

CDL’s Sincere unit in China may undergo court-led restructuring – The Straits Times

BEIJING (BLOOMBERG) – Chongqing Sincere Yuanchuang Industrial, a cash-strapped Chinese developer owned by Singapore’s richest property family, may undergo a court-led restructuring after a bankruptcy application was filed against it, according to sources familiar with the matter. Sincere Property Holdings, the second-largest shareholder of Chongqing Sincere, is preparing to work with stakeholders and creditors on…