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BBCNEWS World July 4, 2024

Bankruptcy protection in the us under chapter 15 which governs Foreign Companies in the us, protecting them from creditors that might want to sue them. You have probably heard of chapter 11. That typically governs American Companies but it is chapter 15. According to Court Filings these negotiations are ongoing in hong kong, canaanite and British Virgin islands. We have reached out to evergrande that have not had conversation. To those who have wondered if they have ever thought of evergrande before it is chinas huge property giant. They have about 1300 projects across 280 different cities in china and they invest in everything, not just property. They have an electric vehicle maker and a football club, but as i mentioned, 2021 was when we saw the
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BBCNEWS World Business Report June 4, 2024 04:33:00

Larger company. it warned in the last couple of weeks it was going to make an $8 billion loss in the first half of this year and for any of you remember the trials and tribulations you might have ptsd. they told bondholders they might not be able to service the bond repayments. this was the start of evergrande s troubles. we have seen the shares up but they have a lot their value in the past month and the issue is the unfinished projects that you mention. basically, people buying properties of the plan, seen construction falter and buyers stopping paying the mortgages and that further causing financial stresses for these developer countries that it must be set as well that these developers and the property sector makes up about one third of the chinese economy so it is a really pivotal sector, creating fears of contagion on what these potential collapses and defaults may mean for the rest of the economy and china s economy is struggling at the ....

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