Chinese Coal Co. Seeks U.S. Recognition for $190 Million Debt Swap

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By Rick Archer (June 13, 2022, 6:15 p.m. EDT) – Chinese mining company petitions New York bankruptcy court for US acknowledgment of $190 million debt for approved share swap by a Hong Kong court last week, saying the deal is the result of more than 6 and a half years of talks with creditors.

Hidili Industry International Development Ltd. on Friday filed for recognition under Chapter 15 of the court order approving what it said was a near-unanimously approved restructuring support agreement with its noteholders.

According to its Chapter 15 statement, Hidili owns a group of companies engaged in the coal and coke business in China, operating coal mines, washing coal…

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