Evergrande sets restructuring timeline following 2021 default - reports

Comes into effect in October

Evergrande, the beleaguered Chinese property developer, has published a new timeline for the firm’s delayed restructuring plan, according to court reporters in Hong Kong.

The firm has repeatedly failed to meet deadlines to reveal its restructuring plans, having failed to pay back billions in foreign loans. Following the firm's default in 2021, which sparked a major crisis within the Chinese property market, it has consistently failed to release its financial statement, with trading in its shares suspended for the past year. The property developer is currently seeking to restructure $22.7bn of offshore debt, as part of liabilities that total to over $300bn. Moody's: SVB collapse unlikely to spread to emerging markets At a Hong Kong court heari...