Category: creditors

Unclear When Porter Davis Creditors Will Be Paid

June 28, 2023
AustraliacreditorsPorter DavisWorld
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It’s unclear when creditors owed millions of dollars following the collapse of builder Porter Davis will see their money or how much they’ll get. The company fell over in late March with about $147 million (US$97.67 million) in debt, leaving some 1700 homes in limbo in Victoria and Queensland. On June 28, around 20 people…

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Collapsed FTX Owes Nearly $3.1 Billion to Top 50 Creditors

November 21, 2022
Business & MarketsCompaniescreditorscryptocryptocurrencyFTXMarketsUSUS News
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Cryptocurrency exchange FTX, which has filed for U.S. bankruptcy court protection, said it owes its 50 biggest creditors nearly $3.1 billion. The exchange owes about $1.45 billion to its top ten creditors, it said in a court filing on Saturday, without naming them. FTX and its affiliates filed for bankruptcy in Delaware on Nov. 11…

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Evergrande Offshore Creditors Warn of Legal Action Over Default and Weak Engagement

January 21, 2022
Business & EconomyChinaChina Business & Economycreditorseconomyevergrandelegal action
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International creditors of the world’s most-indebted property developer threatened on Jan. 20 they would roll out “all necessary actions” to defend their rights if the company fails to resolve its default in good faith. China Evergrande Group has been struggling with over $300 billion in total liabilities, including nearly $20 billion of international bonds all…

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China Evergrande Secures Payment Extension as More Developers Race to Avert Defaults

January 13, 2022
Business & EconomyChinaChina Business & EconomyChina Evergrande GroupChinese developersCompaniescreditorseconomy
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HONG KONG/SHANGHAI—China Evergrande Group on Thursday secured a crucial approval from onshore bondholders to delay payments on one of its bonds, as other cash-strapped developers also scrambled to negotiate new terms with creditors to avoid defaults. Struggling with more than $300 billion in liabilities, sector giant Evergrande was seeking more time for bond coupon and…

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