Evergrande's troubles first surfaced in the summer when it made clear how heavily leveraged the firm had become.
Last month, it missed its first foreign bond repayment, but there was a 30-day grace period attached. That ran out on Tuesday, with some bond owners complaining that they had yet to be repaid. But signs now point to Beijing being willing to close the chapter on the 25-year-old real estate empire that has typified China's breakneck growth in recent decades.
A new seven-strong"risk management committee" has been set up to manage the restructuring. Only two executives from the company are on the committee - others include officials from state entities.
who's next?
Singapore Latest News, Singapore Headlines
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