Kaisa Group offshore creditors to vote on schemes at May 20 meetings

By Caroline Salls

Pittsburgh, April 20 – Kaisa Group Holdings Ltd. said its offshore creditors will meet in the Cayman Islands and Hong Kong on May 20 to vote on its schemes of arrangement.

According to a news release, the creditor meetings were scheduled by the Grand Court of the Cayman Islands and the High Court of Hong Kong.

Kaisa said the schemes will become binding if approved by the requisite majorities of the scheme creditors and after court orders sanctioning the schemes are made and sealed copies of those orders are lodged with the companies registrar in the Cayman Islands and registered by the companies registrar in Hong Kong.

Kaisa Group is a Shenzhen, China-based property development company.

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