General Category > China

China’s property giant Evergrande files for bankruptcy protection in Manhattan court

(1/1)

240B:

CNBC
By Sumathi Bala
PUBLISHED THU, AUG 17 2023

* China’s heavily indebted property developer Evergrande Group on Thursday filed for Chapter 15 bankruptcy protection in a U.S. bankruptcy court.
* In a filing to the Manhattan bankruptcy court, the firm sought recognition of restructuring talks underway in Hong Kong, the Cayman Islands and the British Virgin Islands.
* The world’s most indebted property developer defaulted in 2021 and announced an offshore debt restructuring program in March.(more)
https://www.cnbc.com/2023/08/18/china-property-developer-evergrande-files-for-bankruptcy-protection-in-us.html

DefiantMassRINO:
China is ruled by a Communist totalitarian regime.  There's no such thing as private property, private enterprise, private intellectual property, and private business.

China is not "investible".  They use Gloabalism, free trade, cheap labor, and potentially 1 billion+ consumers as a lure for Western companies to locate facilities in the China ... where the Chi-coms close their technological gap by stealing Western technology.

 ////00000////

People would be better off investing in North Korean beach reorts.

mountaineer:
This Chinese journalist has been warning about Evergrande for several years. Her twitter thread:

Inconvenient Truths by Jennifer Zeng 曾錚真言
@jenniferzeng97
Breaking: The court documents on Thursday reveal that China #Evergrande <http://3333.HK> is seeking protection under Chapter 15 of the U.S. Bankruptcy Code for American creditors.

--- End quote ---

https://twitter.com/jenniferzeng97/status/1692314884283703354

Navigation

[0] Message Index