A Hong Kong court will hold sanction hearings over whether to approve embattled Chinese property developer China Evergrande Group's offshore debt restructuring plan on Sept. 5 and Sept. 6, the court ruled on Monday.
The company logo is seen on the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. REUTERS/Aly Song/File Photo
HONG KONG, July 24 - A Hong Kong court will hold sanction hearings over whether to approve embattled Chinese property developer China Evergrande Group'sA convening hearing for Evergrande's offshore debt restructuring plan was held in Hong Kong's High Court on Monday. A separate hearing will also take place at a Cayman Islands court on Tuesday.
With total liabilities of $330 billion, Evergrande is the world's most indebted property developer, and its default in late 2021 has led to a string of defaults and uncompleted homes across China.in March, proposing to creditors a basket of options to swap their debt into new bonds and equity-linked instruments.
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