CWT International Ltd, a unit of indebted HNA Group Co Ltd, on Tuesday said it d...
HONG KONG - CWT International Ltd, a unit of indebted HNA Group Co Ltd, on Tuesday said it defaulted on a HK$1.4 billion loan, and that it has less than 24 hours to pay funds due or lose assets pledged as collateral.
CWT, in a filing to the Hong Kong stock exchange, said it has not paid accrued interest and fees worth HK$63 million to lenders, who will take possession of the assets if the amount due is not paid by 9 AM on Wednesday. One property, 17 Columbus Courtyard in London’s Canary Wharf development - with tenants including Credit Suisse Group AG - was bought in July 2016 for 131 million pounds . In 2018, it was on sale with a value of HK$1.3 billion .
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