The Supreme Court of Bermuda adjourned the hearing of a winding up petition against Skyfame Realty (Holdings) (HKG:0059) to Feb. 20, by the Supreme Court of Bermuda, a Friday Hong Kong bourse filing said.

The petition was filed by a creditor against the property developer in 2022 over alleged unpaid debt.

The firm had decided not to object to the winding up or liquidation due to its inability to raise enough funding for a debt restructuring scheme or generate enough sale proceeds to fulfill its payments under the scheme and offer a better return to its creditors.