Sino-Ocean’s Hong Kong Wind-Up Case Delayed as UK Ruling Looms

A Hong Kong court delayed a hearing on Sino-Ocean Group Holding Ltd.’s restructuring agreement with lenders, as the state-linked builder awaits a decision later this month on a UK case involving a debt plan for all creditors.

Sino-Ocean earlier said that a group of loan lenders holding 86.2% of its debt had voted in favor of the Hong Kong scheme, passing a threshold of 75% required for the restructuring arrangement in the city. The next Hong Kong hearing is set for Feb. 19, “given the pending decision of the English Court,” according to a company filing.