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The latest update is out from Logan Property Holdings Co ( (HK:3380) ).
Logan Group has applied to the Grand Court of the Cayman Islands for permission to convene scheme meetings so creditors can consider and potentially approve a Cayman scheme of arrangement tied to its holistic restructuring. The company has issued a Practice Statement Letter and notified scheme creditors, directing them to a transaction website for detailed information on the updated proposals.
The developer has further amended its holistic creditor support agreement with an ad hoc group, creating an Updated Amended Holistic CSA and term sheet that govern its revised restructuring plan. Creditors covered by the proposal who have not yet joined are urged to accede or sign a creditor support letter before a specified early-bird deadline to qualify for a fee, signaling Logan’s push to lock in support and advance implementation of its restructuring.
More about Logan Property Holdings Co
Logan Group Company Limited is a Chinese property developer listed in Hong Kong, operating under stock code 3380 with multiple debt stock codes. The company focuses on real estate development and related investment activities, and is currently undergoing a comprehensive restructuring of its offshore debt obligations to stabilize its capital structure.
Average Trading Volume: 5,869,544
Technical Sentiment Signal: Hold
Current Market Cap: HK$7.11B
See more data about 3380 stock on TipRanks’ Stock Analysis page.