Fri 05/19/2023 04:03 AM
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Reorg Asia’s Highlights:



  • The Hong Kong Court found that Peking University Founder Group Company Ltd. (PUFG) breached its keepwell obligations provided to Founder Information (Hong Kong) Ltd. (FIHK), the guarantor of $800 million defaulted bonds issued by Kunzhi Ltd. (Kunzhi). The Court found the breach caused a CNY 1.154 billion ($163.8 million) loss to FIHK;



  • PUFG’s keepwell and equity interest purchase undertaking (EIPU) obligations to other issuers/guarantors Nuoxi Capital Limited...
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