Modern Land (China) says two restructuring conditions fulfilled

By Wendy Van Sickle

Columbus, Ohio, Nov. 30 – Modern Land (China) Co., Ltd. announced satisfaction of two restructuring effective date conditions in an update on Nov. 30.

The conditions include the company’s payment of the restructuring support agreement fee to consenting creditors and payment of certain agreed upon work and legal fees. Both of these payments were made on Nov. 30.

The company said it will continue to endeavor to fulfill the outstanding restructuring effective date conditions.

On Nov. 28, the company announced another extension of the longstop date and the anticipated restructuring effective date for the proposed restructuring of its existing notes.

The extension now runs through Dec. 2, from Nov. 25, as previously reported.

The longstop date has been extended many times.

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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.