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China Evergrande says hiring more advisers to help deal with debt

China Evergrande Group said on Friday that it was hiring more financial and legal advisers to help it with demands from creditors

Evergrande
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Reuters Shanghai/Hong Kong
China Evergrande Group said on Friday that it was hiring more financial and legal advisers to help it with demands from creditors, after a key group of its international creditors threatened to take legal action if it did not show more urgency to resolve a default.

Evergrande is the world's most-indebted property company, with more than $300 billion in total liabilities, which include nearly $20 billion of international bonds all deemed to be in default after a run of missed payments late last year.

Its rocky financial situation has roiled other Chinese property developers over the past year and exacerbated a funding

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First Published: Jan 21 2022 | 10:57 AM IST

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