As neither party agreed on the extension of the long stop date, which is the last day of 2023, Evergrande New Energy Vehicle said the share subscription and loan conversion subscription agreement by NWTN are no longer valid.
HONG KONG: Heavily indebted Chinese property giant Evergrande has until late January to put together a restructuring plan, a Hong Kong court ruled Monday, extending a deadline that could lead to its liquidation.
China Evergrande’s shares rose after a court granted the Chinese property developer more time to work out a plan to restructure billions of dollars in debt.
Heavily indebted Chinese property giant Evergrande has until late January to put together a restructuring plan, a Hong Kong court ruled Monday, extending a deadline that could lead to its liquidation.Judge Linda Chan on Monday adjourned the case until January 29, a reprieve after earlier saying December 4 would be Evergrande's deadline before appointing independent liquidators from accounting firm KPMG.
Chan urged Evergrande on Monday to have "more direct discussion with relevant authorities to