Published by Global Banking & Finance Review®
Posted on February 3, 2025
1 min readLast updated: January 26, 2026
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London's High Court approved Sino-Ocean's $6 billion debt restructuring plan, despite creditor opposition, as part of a parallel process in London and Hong Kong.
LONDON (Reuters) - London's High Court on Monday approved Chinese property developer Sino-Ocean Group's plan to restructure around $6 billion of its debt, despite opposition from an ad hoc group of creditors.
State-backed Sino-Ocean Group is attempting a parallel process in London and Hong Kong to restructure its offshore debt, as other developers have defaulted since the Chinese property sector's 2021 debt crisis.
The Hong Kong-listed firm asked the High Court to approve its plan but creditor Long Corridor had opposed it, arguing it was unfair to other creditors.
Judge Nicholas Thompsell said in a written ruling that he would sanction the London restructuring plan.
(Reporting by Sam Tobin; Editing by Sachin Ravikumar)
The UK High Court approved Sino-Ocean Group's plan to restructure around $6 billion of its debt.
Creditor Long Corridor opposed the plan, arguing that it was unfair to other creditors.
Sino-Ocean Group is attempting a parallel process in London and Hong Kong to restructure its offshore debt.
Judge Nicholas Thompsell sanctioned the London restructuring plan in a written ruling.
Other developers have defaulted since the Chinese property sector's 2021 debt crisis.
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