HONG KONG -- China Evergrande Group and a group of its offshore creditors have agreed to a debt restructuring plan, attorneys involved in the case said on Monday, sparking optimism that a resolution to the lengthy legal tussle is finally in sight.
Property
Evergrande's offshore creditors optimistic on restructuring plan
Chinese developer aims to finalize deal by the end of the month
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Evergrande was once the largest mainland Chinese developer by sales, but its debt-fueled growth hit a serious snag after Beijing began cracking down on the highly leveraged sector in the summer of 2021. (Photo by Kenji Kawase)
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