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China Evergrande Group filed for Chapter 15 bankruptcy protection in New York to protect non-US companies undergoing restructuring from creditors suing or seizing assets in the US. Evergrande is one of China's largest real estate groups. After defaulting for the first time in 2021, its total liabilities once reached 2.4 trillion yuan, triggering a crisis in China's real estate market. -bbcchinese
China Evergrande Group filed for Chapter 15 bankruptcy protection in New York to protect non-US companies undergoing restructuring from creditors suing or seizing assets in the US. Evergrande is one of China's largest real estate groups. After defaulting for the first time in 2021, its total liabilities once reached 2.4 trillion yuan, triggering a crisis in China's real estate market. -bbcchinese
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