Nov 28 (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.