China's Evergrande Files For Bankruptcy Protection In US

Amid the deepening real estate crisis in China, embattled property giant China Evergrande Group has filed for Chapter 15 bankruptcy protection in New York. Chapter 15 allows heavily-indebted company like Evergrande to protect its assets in the US amid its restructuring efforts. China's second-largest property developer, with debts estimated to total more than $300 billion, defaulted on its debt r

from RTT - Top Story https://ift.tt/lFj0KeL
via IFTTT