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Editorial · Firm matter · reported by one outlet · Hong Kong · Published 12 November 2026

Linklaters guides lenders through Powerlong's US$2.9bn restructuring

Hong Kong
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The offshore debt of the Hong Kong-listed Chinese developer was restructured by a Hong Kong scheme of arrangement that took effect on 6 November.

Linklaters advised a group of bank lenders on the restructuring of about US$2.9 billion of offshore debt owed by Powerlong Real Estate Holdings, a Chinese property developer listed in Hong Kong, according to the firm's announcement published by Conventus Law on 11 November. The restructuring was carried out through a scheme of arrangement in Hong Kong, which the Hong Kong court sanctioned on 17 June 2026. Creditors bound by the scheme could take one or more of several options: cash, listed shares, mandatory convertible bonds, new notes and a new loan. The restructuring became effective on 6 November 2026. The Linklaters team was led by partners Bernard Chain, Roberta Cheung and Richard Woodworth. The firm cited earlier work on the US$2.3 billion offshore restructuring of China SCE Group, for its lenders' co-ordinating committee, and on Country Garden's restructuring of about US$17.7 billion of offshore debt.

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