(Reuters) – Liquidators of residential property designer China Evergrande on Thursday offered a winding-up application versus device Tianji Holding, a guarantor for sure overseas elderly notes released by Scenery Journey which is additionally a participant of the team.
“The Liquidators consider the winding-up petition against Tianji Holding to be in the interest of the creditors and other stakeholders of the Group,” Evergrande claimed in a declaration.
In its preliminary overseas financial obligation restructuring proposition in April 2023, Evergrande supplied owners of notes released by Scenery Journey and Tianji Holding the choice to trade their existing financial obligation for brand-new notes with maturations of 4 to 8 years.
The High Court of Hong Kong is readied to listen to the winding-up application onJan 15, 2025.
Evergrande, the globe’s most greatly indebted residential property designer with over $300 billion in obligations, was bought right into liquidation by a Hong Kong court in January following its overseas financial obligation default in late 2021.
(Reporting by Roshan Thomas in Bengaluru; modifying by David Evans and Toby Chopra)
