Property giant Evergrande has filed for bankruptcy protection in the US as the real estate crisis in China deepens.
It will allow the heavily-indebted company to protect its assets in the US as it works on a multi-billion dollar deal with creditors.
Evergrande defaulted on its huge debts in 2021, which sent shockwaves through global financial markets.
Evergrande defaulted on its huge debts in 2021, which sent shockwaves through global financial markets.
China Evergrande Group made the Chapter 15 bankruptcy protection filing in a New York court on Thursday.
Chapter 15 protects the US assets of a foreign company while it works on restructuring its debts.
Evergrande did not immediately respond to a request for comment from the the BBC.
The group’s real estate unit has more than 1,300 projects in more than 280 cities in the country, according to its website.
Its other businesses include an electric car maker and a football club.
Property giant Evergrande has filed for bankruptcy protection in the US as the real estate crisis in China deepens.
Evergrande defaulted on its huge debts in 2021, which sent shockwaves through global financial markets.
It will allow the heavily-indebted company to protect its assets in the US as it works on a multi-billion dollar deal with creditors.
China Evergrande Group made the Chapter 15 bankruptcy protection filing in a New York court on Thursday.
Evergrande defaulted on its huge debts in 2021, which sent shockwaves through global financial markets.
Evergrande defaulted on its huge debts in 2021, which sent shockwaves through global financial markets.
China Evergrande Group made the Chapter 15 bankruptcy protection filing in a New York court on Thursday.
Chapter 15 protects the US assets of a foreign company while it works on restructuring its debts.
Evergrande did not immediately respond to a request for comment from the the BBC.
The group’s real estate unit has more than 1,300 projects in more than 280 cities in the country, according to its website.
Its other businesses include an electric car maker and a football club.
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