An aerial view shows the 39 buildings developed by China Evergrande Group that authorities have issued demolition order on, on the man-made Ocean Flower Island in Danzhou, Hainan province, China January 6, 2022. REUTERS/Aly Song/FilesHong Kong court adjourned winding-up lawsuit to March 2023HONG KONG, Nov 28 - Embattled property developer China Evergrande Group
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. A lawyer representing the petitioner said Evergrande has not involved his client in the restructuring discussions and they have no information on the process. Evergrande's lawyer said the firm plans to work out a proposal before sharing it with all of the creditors.
Source: News Formal (newsformal.com)
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