Chinese developer Agile receives a winding-up petition

Chinese developer Agile (3383) said it has received a winding-up petition and that it will oppose the petition vigorously.

The request was filed by Melco (Zhongshan) Business Management at the High Court in relation to certain alleged outstanding payments in the aggregate amount of US$18.6 million (HK$145 million) and 2.2 million yuan (HK$2.4 million), according to a filing. 

The first hearing date for the petition is set on February 25, 2026.

Agile said the petition will have a meaningful impact on its operations at this stage.

It also pledged to continue to proactively communicate and work with its offshore creditors through a comprehensive restructuring of its offshore liabilities, with the aim to agree on the preliminary restructuring terms with a key group of offshore creditors as soon as possible.