China Oceanwide Holdings’ real estate troubles are mounting in the US, with credit holders taking control of a stalled skyscraper development in San Francisco.Overseas credit holders of Oceanwide’s two offshore units have taken over their entire holdings in the project, the developer said in a Shenzhen Stock Exchange filing. The two notes, in dollars and worth a combined HK$2.6 billion (US$334 million), have matured.While investors around the world are watching to see how the crisis around cash…
Source : South China Morning Post
Read more…China Oceanwide’s creditors seize control of stalled San Francisco skyscraper after developer’s US4 million default
