Embattled Chinese developer Sino-Ocean Group faces the risk of liquidation amid challenges to secure enough consent votes on a restructuring proposal, as a key bondholder group is “strongly opposed” to it.

Linklaters, the legal adviser for an ad hoc group of bondholders, organised a meeting on Wednesday to advocate a veto of the developer’s proposal, asking creditors not to sign the restructuring support agreement (RSA), the Post has learned. The ad hoc group constitutes more than 25…