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Thousands of people who bought products through China's top-selling company
... to repay, the prospectus stated. The sales manager said that the Qingdao company was working on Evergrande projects and would use the payment from Evergrande upon completion to repay investors. Other highly leveraged Chinese conglomerates including HNA Group , which declared bankruptcy earlier this year, and China Baoneng have used similar products. In a petition to various government bodies, a group of WMP investors in Guangdong accused Evergrande of inappropriately using money that should have gone ...
Updated: 09/21/2021
China's Evergrande Group shares jump after confirmation of sale of assets
... Evergrande may head to a restructuring in China after Evergrande decided last week that the lawsuits against Evergrande across the country will be handled centrally by the Guangzhou Intermediate People's Court. Barclays said previous cases including HNA Group 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 CSC Financial announced in separate filings that they limited ...
Updated: 08/11/2021
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