Friday August 18, 2023
// August 18th, 2023 // Daily News
China’s property giant Evergrande files for bankruptcy protection in Manhattan court
KEY POINTS
- China’s heavily indebted property developer Evergrande Group on Thursday filed for Chapter 15 bankruptcy protection in a U.S. bankruptcy court.
- In a filing to the Manhattan bankruptcy court, the firm sought recognition of restructuring talks underway in Hong Kong, the Cayman Islands and the British Virgin Islands.
- The world’s most indebted property developer defaulted in 2021 and announced an offshore debt restructuring program in March.
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