“Coal importer Winsway Enterprises Holdings Ltd. became the nation’s second company to default on a dollar-denominated bond this year.  The Hong Kong-listed company isn’t able to pay $13.2 million of semi-annual interest due Friday on $309.3 million of notes that mature next year, according to a Hong Kong stock exchange filing on Friday. A 30-day grace period expired May 8 after it skipped the payment April 8 and hired advisers to restructure its debt.  The recent missed payments are the latest challenge for foreign investors in China who may need to navigate unfamiliar means of recourse to a defaulted company’s assets.”

http://www.bloomberg.com/news/articles/2015-05-08/china-defaults-mount-as-coal-company-winsway-misses-bond-coupon

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