Banks Consider Seizing Hong Kong’s Worfu Mall After Loan Default

Bank creditors are considering seizing control of a Hong Kong shopping center after a venture backed by Schroders Capital and Chelsfield’s Asia fund defaulted on a loan tied to the property, according to people familiar with the matter.

The creditors are looking to appoint a receiver for the Worfu mall, formerly known as Provident Square, in Hong Kong’s North Point district, said the people, asking not to be identified discussing private matters.