EVERGRANDE clarifies: The overseas debt restructuring is being carried out according to plan and does not involve bankruptcy applications.
According to an announcement by EVERGRANDE, the company has noticed media reports and would like to clarify that it is currently proceeding with the overseas debt restructuring plan as scheduled. As the group's US dollar bonds are subject to New York law, the company has applied to the US court for recognition of the overseas debt restructuring agreement and arrangement under the legal systems of Hong Kong and the British Virgin Islands (BVI) in accordance with Chapter 15 of the US Code. This is a normal part of the overseas restructuring process and does not involve bankruptcy applications.
According to the announcement released by EVERGRANDE (03333), the company has noticed the media reports and would like to clarify that it is currently proceeding with the overseas debt restructuring plan as scheduled. As the group's US dollar bonds are governed by New York law, the company has applied to the US court for recognition of the overseas debt restructuring agreement and arrangement under the legal systems of Hong Kong and the British Virgin Islands (BVI) in accordance with Chapter 15 of the US Code. This is a normal part of the overseas restructuring process and does not involve bankruptcy applications.