Evergrande Delays Restructuring Votes Just Hours Before Start
- Votes in Hong Kong, British Virgin Islands were set for Monday
- Last-minute delay drags on long-awaited debt restructuring
This article is for subscribers only.
China Evergrande Group delayed key votes on its offshore-debt restructuring plan just hours before they were to occur Monday, adding to uncertainty in a protracted process to finalize one of the country’s biggest restructurings ever.
The distressed developer, at the epicenter of a property crisis that’s unleashed record delinquencies in a threat to China’s financial markets, delayed the meetings for the group and some units to Sept. 25-26, it said in a filing.