SHANGHAI—Bonds issued by heavily indebted developer China Evergrande Group plunged on Monday over growing investor worries about the company’s ability to pay its debts, prompting China’s stock exchanges to halt trading. The Shanghai Stock Exchange said in a statement that it had temporarily suspended trading in China Evergrande Group’s 6.98 percent July 2022 corporate bond…
Two More Suppliers Say Payments Are Overdue From Indebted Evergrande
HONG KONG—Advertising firm Leo Group said it is applying to a Chinese court to freeze $356 million yuan ($55.06 million) in assets of Evergrande Group for overdue payments, the latest supplier to sue the indebted property developer. Leo’s lawsuit disclosed in a securities filing late on Monday comes after Huaibei Mining Holdings said last week…
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