HONG KONG, Sept 13 (Reuters) - A Hong Kong court on Wednesday adjourned the formal hearing for a winding-up petition against Chinese property developer Kaisa Group to Oct. 6.
The adjournment was initiated because the petitioner would have to amend some technical issues with the petition, including fixing the legal name of an entity, the court said.
Kaisa in July said a winding-up petition had been filed against it in a Hong Kong court by Broad Peak Investment Pte Advisers Ltd in relation to non-payment of onshore bonds worth 170 million yuan ($23.50 million).
The issuer of the yuan bonds is the developer's wholly-owned subsidiary, Kaisa Group (Shenzhen) Co Ltd.
Besides Kaisa, a couple of other Hong Kong-listed Chinese developers are also facing winding-up petitions filed after the sector slipped into a debt crisis in 2021, resulting in many firms defaulting on their debt obligations.
Shenzhen-based Kaisa has said it would seek legal measures to oppose the winding-up petition vigorously.
The first Chinese property developer to default on its dollar bonds in 2015 and undergo a restructuring, Kaisa was also among the first developers to default in the latest property sector debt crisis.
($1 = 7.2822 Chinese yuan renminbi) (Reporting by Xie Yu Editing by Shri Navaratnam)
