EVERGRANDE: Is China Housing Bubble That lasted for YEARS about to burst

Evergrande announced in March that it was restructuring its $31.7 billion in offshore bonds, collateral, and repurchase obligations.

For months Evergrande has been working on an offshore debt restructuring agreement and it unveiled a proposal earlier this year. It offered creditors a choice to swap their debt into new notes issued by the company and equities in two subsidiaries, Evergrande Property Services Group and Evergrande New Energy Vehicle Group

Evergrande Group, has filed for bankruptcy protection in a US court. The company sought protection under chapter 15 of the US bankruptcy code, which protects its US assets while it attempts a restructuring deal. The code also provides mechanisms for dealing with insolvency cases involving more than one country

Fears of a worsening Chinese real estate crisis have increased as a result of Evergrande's bankruptcy protection. With over $300 billion in liabilities, the Evergrade Group is the world's most indebted property developer,

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