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Evergrande, the Chinese construction company, has filed for Chapter 15 bankruptcy protection in the US, which blocks the company from lawsuits and debt payments while they restructure their debt.
By PA/TPN, in Asia, World · 26 Aug 2023, 18:31 · 0 Comments
Evergrande was founded in 1996 and grew on a model of taking loans and then paying them off with proceeds from selling real estate, but in 2021 they defaulted on $300 billion of debt.
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