Yango: Court appoints liquidators; trading of notes remains suspended

By Marisa Wong

Los Angeles, April 14 – China’s Yango Group Co., Ltd. announced that the High Court of Hong Kong has appointed joint and several liquidators.

Lai Kar Yan (Derek) and Hau Kai Ling (Cato), both of Deloitte Touche Tohmatsu in Queensway, Hong Kong, have been appointed as liquidators of Yango Justice International Ltd., according to a notice on Friday.

The company also announced that trading of the 7 7/8% guaranteed senior notes due 2024 issued by Yango Justice and guaranteed by Yango Group remains suspended and will continue to be so until further notice.

The suspension took effect on March 24, 2022.

The suspension relates to an event of default that occurred under the notes, as previously reported.

In March 2022 Yango disclosed non-payment of principal and interest for four series of its onshore notes as well as non-payment of principal and interest on two series of offshore notes. Yango had also missed an interest payment on a separate series of offshore notes.

Yango is a real estate development company based in Shanghai.

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