844202 No.388488
Chinese property developer Evergrande Group says it will withdraw the application for Chapter 15 bankruptcy protection which it filed with a US court last August.
The heavily-indebted developer has been discussing with creditors how to repay its foreign-currency-denominated debts since it filed for the protection.
But the liquidation order made by a Hong Kong high court in January made it virtually impossible for the company to implement the debt-restructuring plan.
Evergrande on Sunday announced its decision to withdraw the Chapter 15 application, saying that it's difficult to implement debt-restructuring as planned.
The Chinese government has taken a stricter policy toward real-estate related companies that have too much debt in a bid to improve the domestic property market.
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bb3685 No.388496
>>388488
YOU HAVE NO MONEY
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a391c6 No.388497
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bb3685 No.388507
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