Deutsche Bank (DBKGn.DE), opens new tab is preparing a liquidation lawsuit in Hong Kong against Chinese developer Shimao Group, two sources said, in a rare move by a foreign firm that comes amid rising credit defaults and China’s deepening property sector crisis.
Shanghai-based Shimao (0813.HK), opens new tab is among the many Chinese developers that have defaulted on offshore bonds, after it missed the interest and principal payment for a $1 billion offshore bond in July, 2022.
China Policy Research 