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China debt crunch

Foreign investors slam Evergrande for sidelining them from debt talks

Bondholder group vows to defend rights as authorities lead restructuring

Debt-laden developer China Evergrande Group has been under the guidance of a government-led risk management committee.

HONG KONG -- Some of debt-laden developer China Evergrande Group's offshore-bond holders on Thursday protested what they called an "opaque" and exclusionary debt restructuring process led by the company's management and local government.

This "ad-hoc group" of bondholders, which describes its members as "large and reputable international investors with deep experience and high standing in the international capital markets," said in a press statement it had no option but to take "all necessary actions to vehemently defend its legal rights and protect its legitimate interests."

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