(Bloomberg) -- A subsidiary of Chinese developer Xinyuan Real Estate Co Ltd. has filed for Chapter 11 bankruptcy protection in the Southern district of New York court, according to a court filing.

Hudson 888 Owner LLC, whose business is “single asset real estate,” filed the petition, according to the court document dated Sunday. Its estimated liabilities and assets are both within the range of $100 million to $500 million, the filing shows.

Hudson 888 Owner is a US unit of Xinyuan, according to a document on the SEC website.

Like many distressed Chinese developers, Xinyuan fell into distress in 2022 and didn’t make an interest payment in October that year. It did a dollar debt exchange in June 2023 and hired Alvarez and Marsal as its restructuring adviser.



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