financetom
Business
financetom
/
Business
/
Liquidators of China Evergrande file winding-up petition against co's unit
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Liquidators of China Evergrande file winding-up petition against co's unit
Nov 28, 2024 6:40 AM

(Reuters) - Liquidators of property developer China Evergrande ( EGRNF ) on Thursday presented a winding-up petition against unit Tianji Holding, a guarantor for certain offshore senior notes issued by Scenery Journey which is also a member of the group.

"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 said in a statement.

In its initial offshore debt restructuring proposal in April 2023, Evergrande offered holders of notes issued by Scenery Journey and Tianji Holding the option to exchange their existing debt for new notes with maturities of four to eight years.

The High Court of Hong Kong is set to hear the winding-up petition on Jan. 15, 2025.

Evergrande, the world's most heavily indebted property developer with over $300 billion in liabilities, was ordered into liquidation by a Hong Kong court in January following its offshore debt default in late 2021.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Paramount, Comcast and Netflix submit bids for Warner Bros Discovery, source says
Paramount, Comcast and Netflix submit bids for Warner Bros Discovery, source says
Nov 20, 2025
Nov 20 (Reuters) - Warner Bros Discovery ( WBD ) has received preliminary bids for the media company from Paramount Skydance ( PSKY ), Comcast ( CMCSA ) and Netflix ( NFLX ), according to a source familiar with the matter. The bids represent the first step in the possible sale of all or part of the century-old Hollywood studio,...
FAA wants new air traffic control data system as part of overhaul
FAA wants new air traffic control data system as part of overhaul
Nov 20, 2025
WASHINGTON, Nov 20 (Reuters) - The Federal Aviation Administration said on Thursday it wants to adopt a new comprehensive system to overhaul how air traffic controllers receive flight data and move aircraft between facilities. Congress in July approved a $12.5 billion plan to overhaul the nation's aging air traffic control system, and boost controller hiring following decades of complaints over...
Alleged AI chip smuggling to China leads to US calls for chip tracking
Alleged AI chip smuggling to China leads to US calls for chip tracking
Nov 20, 2025
(Reuters) -The U.S. Justice Department has charged four people in a scheme to illegally export Nvidia AI chips to China, prompting a key House Republican to call for urgent passage of a chip-tracking bill on Thursday. China recognizes the superiority of American AI innovation and will do whatever it must to catch up, said John Moolenaar, the chair of the...
Investor challenges pile up over price of 3G Capital's Skechers deal
Investor challenges pile up over price of 3G Capital's Skechers deal
Nov 20, 2025
WILMINGTON, Delaware (Reuters) -Investment firms holding millions of shares of footwear giant Skechers are suing for a better deal than the $63 per share price paid by 3G Capital to take over the company in a $9.4 billion deal, according to court records. Hedge funds including affiliates of AQR Capital Management have filed suits against the company in Delaware's Court...
Copyright 2023-2025 - www.financetom.com All Rights Reserved