Evergrande cancels the debt restructuring meeting of the original weekly weekly

Evergrande Group, which is deeply trapped in the debt crisis, canceled the debt restructuring meeting that was scheduled to be held next week, saying that it was necessary to re -examine the proposed debt restructuring plan.

Comprehensive Bloomberg and Hong Kong East Network reported that Evergrande Group announced on Friday (September 22) on the evening of the Hong Kong Stock Exchange, announcing the cancellation of the debt restructuring meeting of the original September 25th to 26th.Essence

Evergrande said that since the company proposed the debt restructuring plan in March this year, the sales situation is not as good as expected.Based on the current situation of the company and negotiating with its consultants and creditors, it is necessary to re -examine the clauses for reorganization to match the company's objective situation and creditors' appeals.

Evergrande did not announce the arrangement of the cancellation of the meeting in the announcement. It only said that "if any corporate reorganization clauses are modified, it will be announced separately."

Evergrande has already delayed the debt restructuring meeting originally scheduled to be held on August 28. The reason is that "a large number of media reports have completely reported the reorganization recognition procedure under Chapter 15 of the American Code."It is hoped that creditors can consider, understand and evaluate the arranges of Evergrande Agreement, and give creditors more time to consider the company's recent development.

It is reported that Evergrande's debt restructuring plan is extremely complicated. Evergrande's creditors are divided into two groups of Class A and C, involving debts of about $ 17 billion (S $ 23.2 billion) and $ 15 billion, respectively.According to industry analysis, the restructuring plan must be supported by Group C to the key, because according to Evergrande disclosed in April, Group C's restructuring support agreement only obtains more than 30%of the creditors support, far lower than the support rate of more than 77%in Group A.