Court Ruling Casts Fresh Doubt on China’s ‘Keepwell’ Bonds

Hogan Lovells successfully represented the plaintiff, Citicorp International Limited, in obtaining a very significant judgment in a bond default dispute against Tsinghua, on 15 June 2023. This decision is an important development for the credit market and may have a significant impact on the marketability of keepwell deeds and similar products in the PRC offshore bond market.


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