Peking Founder, owner of Chinese trader Founder Commodities, has been ordered to restructure just shortly before its bond due date this coming Friday, February 21.
The conglomerate said on Tuesday February 18 that one of its creditors, Bank of Beijing, had filed a request to the Beijing No1 Intermediate People's Court for an asset restructure.The bank cited in its application the inability of Peking Founder to repay its debts,...