(Reuters) – Chinese property developer Evergrande faces imminent liquidation after its overseas creditors failed to reach an 11th-hour deal this weekend to restructure the sprawling real-estate company, the Wall Street Journal reported on Sunday, citing people familiar with the matter.
Talks between the company and its top creditors kicked off last week over a new plan that would have allowed the company to continue its operations, according to the report.
(Reporting by Nilutpal Timsina in Bengaluru)
Comments