With few fresh funding options and slowing property sales, Evergrande, which has $300 billion in total liabilities, began one of China’s biggest debt restructuring processes this year.
Reuters reported earlier this month that Evergrande would sign non-disclosure pacts with bondholders in November to prepare for negotiations in December, with terms to be finalized early next year, citing a source with knowledge of the matter. Evergrande and its major offshore credit group have expressed their opposition to the winding-up petition, saying the developer was actively pushing forward with the offshore debt restructuring work in the interest of all creditors.
During Monday’s hearing, Judge Linda Chan said Evergrande would need to convey “something much more concrete” on its debt revamp process by the next hearing. She directed Evergrande to file a progress report on the restructuring process 14 days ahead of the next hearing.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
House, Senate will see 'eye-to-eye' on P77-B amendments to the 2023 budget--RomualdezThe House leadership is confident the Senate will approve its P77-billion institutional amendments to the proposed P5.268-trillion national budget for 2023, saying this will boost funds for education, health, transportation, and other social services. 77000000000 Pocket money for tongressmen!!!!
Source: manilabulletin - 🏆 25. / 51 Read more »
Use P9.3-B confidential, intel funds in 2023 budget for P10,000 'ayuda'--CastroRealign the alleged P9.3-billion confidential and intelligence funds (CIF) in the proposed 2023 national budget into cash assistance or “ayuda” to poor Filipino families. Dilawan moves.
Source: manilabulletin - 🏆 25. / 51 Read more »
DMCI Homes, SMPC seen to do well in 2023 - BusinessWorld OnlineSEMIRARA Mining and Power Corp. (SMPC) is expected in 2023 to match this year’s performance while DMCI Homes, Inc. is seen to surpass its 2022 showing, top officials of the Consunji-led companies said.
Source: bworldph - 🏆 9. / 68 Read more »
Mactan airport’s parallel runway maybe operational in 2023CEBU CITY, Philippines - The country’s first-ever parallel runway may start accommodating flights next year.Officials from the Mactan-Cebu International Airport Authority (MCIAA) said they are
Source: cebudailynews - 🏆 8. / 71 Read more »
Philippines sees economy slowing, but ‘comparatively strong’ in 2023 - BusinessWorld OnlineMANILA — Philippine economic growth may ease next year after a likely expansion of more than 7% this year as global risks linger, but it will remain resilient, a top official said on Sunday.
Source: bworldph - 🏆 9. / 68 Read more »
PH bet wins ‘Miss Tourism’ pageant in KLThe Philippines’ Maria Angelica Pantaliano won the Miss Tourism Metropolitan International 2022/2023 title during the coronation night held live Friday at Raia Hotel and Convention Centre, in Sarawak, Kuala Lumpur, Malaysia. READ:
Source: MlaStandard - 🏆 20. / 55 Read more »