Distressed developer China Oceanwide declared bankrupt in Bermuda

Rival company Aoyuan dips over 70% as trading resumes after suspension

20230925 Oceanwide Plaza

China Oceanwide Holdings' project in downtown Los Angeles. The company's other overseas projects include those in New York, San Francisco and Hawaii. © AP

KENJI KAWASE, Nikkei Asia chief business news correspondent

HONG KONG -- China Oceanwide Holdings, a Beijing-based private developer, said on Monday that the company was to be wound up by a court in Bermuda.

Trading of the company's Hong Kong-listed shares was suspended from Monday morning due to the court decision and "will remain suspended until further notice," according to the filing to the city's exchange.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.