Live broadcast on August 18 news Bloomberg News, court documents show that China Evergrande Group filed for bankruptcy protection in the United States.
China Evergrande Group filed for bankruptcy protection in New York on Thursday in accordance with Chapter 15 of the US bankruptcy law. U.S. assets can also be protected when Chapter 15 of bankruptcy law allows enterprises to make reorganization arrangements in other regions.
Evergrande’s application documents mentioned the ongoing restructuring procedures in Hong Kong, China and the Cayman Islands. The company has been trying to finalize the offshore debt restructuring plan for several months. In July, Evergrande was approved by the Hong Kong, China court and will vote on the offshore debt restructuring plan this month.
Then first finance also reported that China Evergrande was seeking the protection of American creditors according to the US bankruptcy law.