Chaori default will provide resolution template

The resolution of China’s first onshore bond default will mark out a path for any further defaults, which are expected to happen this year.

Chaori default will provide resolution template

The bond default by Shanghai Chaori Solar Energy Science and Technology should provide a template for resolving similar issues in addition to breaking the implicit guarantee inherent in China’s financial market.

A bondholder meeting will be held on March 26 to decide the next steps namely, whether to compel the bond underwriter -  China Securities - to pursue a civil lawsuit against the company, sell some of the collateral backing the defaulted securities, or...

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