The Guangzhou Intermediate People's Court centralises lawsuits against Evergrande nationwide, sources say.
State media reports construction has been halted on two Evergrande projects in Kunming, one for overdue payments.China's central bank and banking watchdog summon senior executives, issuing a rare warning that Evergrande must reduce its debt risk and prioritise stability. Hui vows to repay all of Evergrande's matured wealth management products as soon as possible. Investors crowd the lobby of Evergrande's Shenzhen headquarters to demand repayment of loans.
It says it has engaged financial advisers to examine its options, warning of cross-default risks amid plunging property sales.Evergrande says it had "resolved" a coupon payment on an onshore bond but then misses payments on Sept. 23 and Sept. 29 deadlines to pay $131 million dollar coupons., Evergrande's second-biggest shareholder, says it plans to exit its holding. The EV unit warns it faces an uncertain future unless it gets a swift cash injection.
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Asian shares mixed after China Evergrande warns of cash woesShares are mixed in Asia after troubled Chinese property developer Evergrande warned late Friday it may run out of money.
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China Evergrande braces for debt deadline after doubting ability to payAfter lurching from deadline to deadline, China Evergrande Group is again on the brink of default, with its pessimistic comments condemning its stock to a record low just as direct state involvement raises hope of a managed debt restructuring.
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