On August 19, Xun Heng, the big group issued an announcement to clarify the rumor that bankruptcy protection was proposed to the US court, saying that it was only normal to promote overseas debt restructuring according to the plan.
China Evergrande Group announcement: The company has noticed the reports of relevant media, and now it is clarified that the company is promoting the restructuring of overseas debts normally according to the plan. Since the group’s US dollar bonds are governed by New York law, the company applied to the U.S. court for recognition of the arrangement of foreign debt restructuring agreement under the legal system of Hong Kong and British Virgin Islands (BVI) in accordance with Chapter 15 of the U.S. Code, it is part of the normal promotion of overseas reorganization procedures and does not involve bankruptcy applications.
Related news: Bloomberg: Court documents show that China Evergrande filed for bankruptcy protection in the United States
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