It’s unclear when creditors owed millions of dollars following the collapse of builder Porter Davis will see their money or how much they’ll get. The company fell over in late March with about $147 million (US$97.67 million) in debt, leaving some 1700 homes in limbo in Victoria and Queensland. On June 28, around 20 people…
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International creditors of the world’s most-indebted property developer threatened on Jan. 20 they would roll out “all necessary actions” to defend their rights if the company fails to resolve its default in good faith. China Evergrande Group has been struggling with over $300 billion in total liabilities, including nearly $20 billion of international bonds all…
China Evergrande Secures Payment Extension as More Developers Race to Avert Defaults
January 13, 2022
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HONG KONG/SHANGHAI—China Evergrande Group on Thursday secured a crucial approval from onshore bondholders to delay payments on one of its bonds, as other cash-strapped developers also scrambled to negotiate new terms with creditors to avoid defaults. Struggling with more than $300 billion in liabilities, sector giant Evergrande was seeking more time for bond coupon and…
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