Posted 9/22/2023, 3:54:00 PM
Evergrande Cancels Key Creditor Meetings Again, Citing Lower Sales and Need to Rethink Restructuring Terms
- Evergrande canceled key creditor meetings set for next week, citing lower than expected sales.
- The company said it needs to reassess the proposed restructuring terms to meet the situation and creditor demands.
- Evergrande did not provide a new schedule for the meetings, saying it will provide updates when available.
- The developer had previously postponed the creditor meetings from late August.
- Earlier in September, Evergrande also revised the dates for scheme sanction hearings to October.
