Evergrande asks for more time from offshore creditors after its board members resign

Real estate developer Evergrande has issued an announcement saying it “sincerely ask all offshore creditors to give us more time” and “refrain from taking any radical legal actions,” as the Wall Street Journal reported.

The call came after its overseas bond investors alleged that Evergrande had been vague about its liabilities and failed to consult opinions from creditors in its restructuring plan. They said the Chinese developer left them no choice but to resort to legal action to protect their legitimate interests.

-------------------
Sign Up To Receive Our Latest News!
https://thebl.com/china-reports-sign-up/