Fantasia is struggling to cope with the dying real estate in China

China 12/10/21, 23:24

On Dec.3, The Paper reported that the leading property developer “Fantasia Group” is experiencing liquidity difficulties. They have officially canceled the transaction in the North China region. This seems to be the last gasp for them. Recently, in his farewell letter on the Internet, Huo Yong, president of the North China ...

First Chinese developer to face a wind-up petition, possible insolvency

China 11/26/21, 03:44

A major subsidiary of Fantasia Holdings Group was facing a wind-up petition filed by its creditors, which could force the debt-laden Chinese developer into insolvency, South China Morning Post reported on Nov. 26. The petition was related to a $149 million loan of which Fantasia Investment Holdings was a guarantor, said ...

Modern Land defaults on $250 million bond payments

China 10/27/21, 15:15

A Chinese property developer became the latest to default on principal and interest of its bonds on Oct. 25. Modern Land admitted it had not repaid a matured, $250 million offshore bond and 12.85% interest due to "unexpected liquidity issues" according to a filing obtained by Reuters. The property company, which specializes ...

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