china
Chinese real estate giant Evergrande posts $81bn loss
Company has struggled amid a housing crisis that has rocked the world’s second-largest economy over the past two years after the government restricted borrowing by developers
China’s Evergrande Group, the real estate giant, is aiming to complete one of the country’s largest debt restructurings after posting a combined loss of more than $81 billion over two years.
The defaulted real estate giant asked to convene meetings for offshore creditors to approve its credit overhaul plan, after reporting long-delayed financial statements for 2021 and 2022. Court hearings are scheduled to take place next week, exchange filings showed late Monday.
Losses at China’s ...
