Evergrande was once the largest mainland Chinese developer by sales, but its debt-fueled growth hit a serious snag after Beijing began cracking down on the highly leveraged sector in the summer of 2021. (Photo by Kenji Kawase)
KENJI KAWASE, Nikkei Asia chief business news correspondent |
HONG KONG — China Evergrande Group and a group of its offshore creditors have agreed to a debt restructuring plan, attorneys involved in the case said on Monday, sparking optimism that a resolution to the lengthy legal tussle is finally in sight.
A group of institutional investors last June filed a winding-up petition against the company in a Hong Kong court, but a decision on the request has faced repeated delays.
