Page 38 - Debt Restructuring News Today : Breaking News, Live Updates & Top Stories | Vimarsana

(Bloomberg) -- China Evergrande Group creditors will vote on the developer’s offshore-debt overhaul proposal Monday, a key step in a protracted process to finalize a blueprint for what would be one of the country’s biggest restructurings ever.Most Read from BloombergMarkets Ready for Swings After High-Rates Mantra of Jackson HoleTrump Doesn’t Look So Invincible in Post-Debate PollsChina Stocks May Open Higher on Measures to Boost MarketChina’s Worsening Economic Slowdown Is Rippling Across the G

(Bloomberg) -- China Evergrande Group slumped as much as 87% in Hong Kong trading following a 17-month halt, becoming a penny stock as the country’s most-indebted developer unveiled more losses. Most Read from BloombergMarkets Ready for Swings After High-Rates Mantra of Jackson HoleChina’s Worsening Economic Slowdown Is Rippling Across the GlobeTrump Doesn’t Look So Invincible in Post-Debate Polls3M Agrees to Pay More Than $5.5 Billion Over Military EarplugsThree US Marines Killed After Osprey C

A new plan for restructuring $10 billion in debt owed by Puerto Rico’s power company was filed late Friday in the latest attempt to end a lengthy bankruptcy process marked by acrimonious negotiations. The plan filed by a federal control board that oversees the U.S. territory’s finances would cut the debt of Puerto Rico’s Electric Power Authority by nearly 80% to some $2.5 billion. “We hope that we will be closing not just the chapter but most of the book on the largest public sector bankruptcy in the United States,” Robert Mujica, the board’s executi...

China's stock market was plunging and its currency was teetering. The head of the central bank, fielding questions at a rare news conference, said China would make it easier to get home mortgages. It was February 2016 and Zhou Xiaochuan, the central bank's longtime governor at the time, announced what proved to be the start of an extraordinary blitz of lending by China's immense banking system.

China's dependence on real estate was lucrative during what seemed like a never-ending property boom, but it has become a liability after years of excessive borrowing and overbuilding. When China was growing faster, the excesses were papered over as developers borrowed more to pay off mounting debts. But now China is struggling to regain its footing after emerging from the paralyzing pandemic lockdowns its leaders imposed, and many of its economic problems are pointing back to real estate.