The Evergrande Group offices in Shanghai.ALY SONG (REUTERS) The crisis at Chinese real estate giant Evergrande entered a new phase Thursday when the company filed a bankruptcy declaration before a New York court: Chapter 15 bankruptcy, which is reserved for international receiverships in the United States. The group has been in financial trouble for several years and has implemented a restructuring plan but is still unable to meet its liabilities.
The suspension of payments comes after the company decided to delay meetings with some debtholders in order to secure more time to move forward with its restructuring plan. Last March […]
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