Property News · January 21, 2022

Evergrande crisis: Chinese developer hiring more legal advisers to tackle debt


China Evergrande Group said it was hiring more financial and legal advisers to deal with creditors’ demands, after a group of offshore bondholders warned of enforcement action, taking it a step forward in resolving its debt issues.The embattled developer, struggling with 1.97 trillion yuan (US$305 billion) of liabilities, said in an exchange filing on Friday that it was seeking to hire China International Capital Corp and BOCI Asia as financial advisers, and Zhong Lun Law Firm as legal adviser…

Source : South China Morning Post
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