Bondholders in Evergrande have said they were “left in the dark” by the firm, as they warned the property behemoth may face liquidation due to news that its offshore debt restructuring plan failed to meet regulatory requirements.
Last month, the Chinese property developer said it would be unable to issue new debt due to a regulatory investigation, scuppering its planned restructuring path. Evergrande reveals £62bn losses in delayed results However, bondholders represented by investment bank Moelis and law firm Kirkland and Ellis argued that Evergrande's position its restructuring cannot be implemented for regulatory reasons "just does not add up". "It is difficult to believe that [the regulator] would actually stop a distressed company from restructuring," the group said. The news from Evergrande had...
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