(Reuters) – Liquidators of property developer China Evergrande (HK:) on Thursday introduced a winding-up petition towards unit Tianji Holding, a guarantor for sure offshore senior notes issued by Surroundings Journey which can be a member of the group.
“The Liquidators think about the winding-up petition towards Tianji Holding to be within the curiosity of the collectors and different stakeholders of the Group,” Evergrande mentioned in an announcement.
In its preliminary offshore debt restructuring proposal in April 2023, Evergrande supplied holders of notes issued by Surroundings Journey and Tianji Holding the choice to trade their current debt for brand new notes with maturities of 4 to eight years.
The Excessive Courtroom of Hong Kong is ready to listen to the winding-up petition on Jan. 15, 2025.
Evergrande, the world’s most closely indebted property developer with over $300 billion in liabilities, was ordered into liquidation by a Hong Kong courtroom in January following its offshore debt default in late 2021.
