Property News · January 25, 2022

Evergrande urges offshore creditors to `avoid hostile actions’ while it evaluates workout plan on US$310 billion of liabilities


China Evergrande Group is asking its offshore creditors to refrain from taking hostile enforcement actions to recover their debt as the developer makes “unremitting efforts” to reorganise more than US$310 billion of liabilities.The group will need more time to evaluate the number of potential solutions before it can further engage in substantive negotiations with offshore creditors, it said in a stock exchange filing on Tuesday, citing the large number of stakeholders and debt complexities.The…

Source : South China Morning Post
Read more…Evergrande urges offshore creditors to `avoid hostile actions’ while it evaluates workout plan on US0 billion of liabilities

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