Evergrande Files for Bankruptcy.,

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  1. #1

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    Evergrande Files for Bankruptcy.,

    Back in the news.. but I am not sure what this bit is all about.


    Evergrande filed for Chapter 15 bankruptcy protection, which allows a US bankruptcy court to step in when an insolvency case involves another country. Chapter 15 bankruptcy is intended to help promote cooperation between US courts, debtors, and other countries’ courts involved in cross-border bankruptcy proceedings.
    https://www.cnn.com/2023/08/17/busin...tcy/index.html

  2. #2

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    In the FT ..

    According to the petition, Evergrande is also pursuing a parallel “scheme of arrangement” in the Cayman Islands as well as a restructuring proceeding pending before the High Court of Hong Kong.

    The petition was signed by Jimmy Fong, who represented himself as “Foreign Representative” of China Evergrande Group. A meeting of “scheme creditors” is set for August 23rd at the Hong Kong office of Sidley Austin, the US-based law firm representing Evergrande.

  3. #3

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    finally