... to repay, the prospectus stated.
The sales manager said that the
company was working on Evergrande projects and would use the payment from Evergrande upon completion to repay investors.
Other highly leveraged Chinese conglomerates including
, which declared bankruptcy earlier this year, and
Baoneng have used similar products.
In a petition to various government bodies, a group of WMP investors in
accused Evergrande of inappropriately using money that should have gone ...
... Evergrande may head to a restructuring in
after Evergrande decided last week that the lawsuits against Evergrande across the country will be handled centrally by the
Intermediate People's Court.
said previous cases including
and Tsinghua Unigroup where litigations were distressed have become distressed, before entering in restructuring.
Early this week, Evergrande's onshore bond custodians Guotai Junan and
announced in separate filings that they limited ...