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Property developer China Aoyuan has filed for bankruptcy protection under Chapter 15 of the US Bankruptcy Code in New York, court documents show.
Last month, China Aouan said it had enough creditor support for its restructuring plan and would seek approval for part of the plan from a Hong Kong court in January.
Under US law, Chapter 15 allows companies to protect their US assets in restructuring arrangements in other jurisdictions, and some restructurings of foreign debt need to be filed under Chapter 15.