US EditionChina’s struggling property giant Evergrande files for bankruptcy protection in US
- China Evergrande, the heavily indebted property developer, has filed for protection from creditors in the United States under Chapter 15 of the US bankruptcy code.
- The company has delayed meetings for the Hong Kong CEG Class A and Class C debt holders to give them more time to consider a fresh restructuring plan.
- 40% of Chinese home sales have been affected by the sector's debt crisis, with most of the defaults coming from private property developers.
153 Articles
153 Articles
Evergrande seeks US court nod for $32B debt overhaul as China economic fears mount
HONG KONG/NEW YORK -Embattled developer China Evergrande Group has filed for bankruptcy protection in a U.S. court as part of one of the world’s biggest debt restructuring exercises, as anxiety grows over China‘s worsening property crisis and a weakening economy. Once China‘s top-selling developer, Evergrande has become the poster child of the country’s unprecedented debt crisis in the property sector, which accounts for roughly a quarter The …
Evergrande files for bankruptcy in US, fueling worries about China...
Embattled developer China Evergrande Group has filed for US bankruptcy protection as part of one of the world's biggest debt restructurings, as anxiety grows over China's worsening property crisis and its impact on the weakening economy.
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