Posted 10/20/2023, 5:48:43 AM
Evergrande Faces Investor Backlash as Debt Restructuring Falters Amid Criminal Probe of Founder
- Evergrande revises terms of proposed offshore debt restructuring deal to meet firm's situation and creditors' demand
- Evergrande unable to issue new debt due to investigation of its main unit
- Bondholders raised concerns about possible liquidation after restructuring plan failed regulations
- Hearings for HK and US bankruptcy court vacated and adjourned respectively
- Evergrande's billionaire founder under investigation for unspecified crimes
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