Evergrande's offshore bondholders signal legal action - reports

$19bn of the company's liabilities

clock • 1 min read

Evergrande international bondholders have warned the property group of potential legal action due to a lack of engagement from the company.

According to reports in the Financial Times, bondholders have hired offshore law firm Harney's, as they consider "enforcement actions" against the heavily indebted property firm.  The offshore investor group, which accounts for billions of dollars of Evergrande's debt, said it was "prepared to take all necessary actions to vehemently defend its legal rights and protect its legitimate interests".  China's real estate crisis intensifies as Shimao Group defaults on loan - reports Evergrande has been at the heart of the real estate crisis in China having first missed interest payments ...

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