News Snapshot:
Tsinghua Unigroup and its six subsidiaries met creditors on Monday in a virtual meeting to update them on the latest round of it debt restructuring process, according to a statement from the group on Monday. The once high-flying conglomerate associated with China’s top university has entered a bankruptcy restructuring process following a Beijing court order after being sued by investors. It began a search in July for deep-pocketed investors for a “complete bailout” to avoid selling its high-worth subsidiaries individually. Tsinghua Unigroup’s six subsidiaries were included in the group’s August restructuring. “The restructuring of Tsinghua Unigroup is about to enter...
