Shimao Group Pushes for Court Approval to Restructure Massive Debt

In a significant stride towards recovery, Shimao Group Holdings is taking crucial steps to address its overwhelming debt crisis. The Hong Kong-listed property developer is currently seeking court approval to conduct a crucial vote on a proposed restructuring plan that could potentially reshape its financial landscape. This move signifies Shimao’s determination to overcome the challenges posed by its substantial liabilities, which have become unsustainable in the wake of broader economic pressures within China's real estate sector.

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