HONG KONG (Financial Times) -- Global funds that invested in Evergrande's bonds have come up with their own debt restructuring plan for the cash-strapped property developer and demanded that its chair repay liabilities with his own fortune, according to two people familiar with the matter.
Frustrated bondholders submitted a proposal that laid out a framework to restructure Evergrande's $20 billion of offshore debts in recent days after the company missed a self-imposed deadline in July to present a plan to meet its colossal liabilities, the people said.
