Modern Land (China) expects restructuring to be effective by Oct. 14

By Marisa Wong

Los Angeles, Oct. 7 – Modern Land (China) Co., Ltd. gave notice of a further extension of the longstop date and the anticipated restructuring effective date relating to the proposed restructuring of its existing notes.

The company announced on Friday that the majority consenting creditors have consented to a further extension of the longstop date in accordance with the terms of the Cayman scheme of arrangement between the company and its creditors and the restructuring support agreement to Oct. 14.

The restructuring effective date is expected to occur on or before Oct. 14.

Questions may be directed to D.F. King Ltd. (https://sites.dfkingltd.com/modernland; modernland@dfkingltd.com; +44 20 8089 4257, +852 5808 2134).

The Beijing-based property developer is focused on the development of green, energy-saving and eco-friendly residences in China. The company filed Chapter 15 on June 3 under case number 22-10707.

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