Chinese court guidance aims to smooth developer bankruptcies, reassure creditors

China’s Supreme People’s Court has issued the country’s first systematic judicial guidance governing bankruptcy proceedings for property developers, in an effort to end inconsistencies that have slowed disposals and deterred capital in recent years. The framework called for timely reorganisations of viable developers and prompt liquidations of those lacking sustainable value, according to a statement by the Supreme People’s Court on Monday. It also said asset-management companies and...