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.

The mall was used as collateral for the about HK$1.5 billion ($190 million) loan that a joint venture owned by a consortium including Schroders Capital and Chelsfield ...