(Hong Kong Comprehensive News) China Real Estate Enterprise Evergrande Group, which was caught in the crisis of liquidity, originally scheduled to announce the preliminary debt restructuring plan by the end of July, but Evergrande changed its mouth on Friday (July 29), hoping to announce the reorganization as soon as possible during the year as soon as possible during the year.plan.
Evergrande's announcement on Friday in the Hong Kong Stock Exchange stated that the company has been working closely with relevant parties such as creditors to conduct due diligence investigations on the core business of the group, and use it as an important basis for overseas debt restructuring plans.However, in view of the size and complexity of the group and the current status of the industry, the investigation is still ongoing, and the business will take a long time to restore orderly operations.
Evergrande also announced the principles of overseas debt restructuring plans in the announcement, emphasizing that it will be based on international reorganization and fair treatment of all creditors' rights and claims, and arranging security measures.
In the guarantee measures, Evergrande promises to provide asset packets for overseas creditors. It may include the equity of Evergrande's subsidiaries, Evergrande Property, Evergrande Automobile, etc., and creditors can be based on the assets pursued by the applicable law.In an exclusive interview with the 21st Century Business Herald, the new CEO and Executive Director of Evergrande said that the company is huge, business, and facing huge business difficulties. It will take more time and patience to complete the reorganization of overseas debt.
Securities Times reported that Zhang Dawei, chief analyst of Central Plains Real Estate, analyzed that because the real estate market has not seen a significant recovery, Evergrande announces the possibility of reorganization plan during the year.
