Indebted Chinese property giant Evergrande gets more time for restructuring deal | DW News

A Hong Kong court has once again given China's highly indebted real estate group Evergrande more time to organize a restructuring plan. The court has postponed legal proceedings until January 29 of next year. The real estate giant now has more time to gain backing for its restructuring plan. Last year a creditor filed a winding-up petition in Hong Kong against Evergrande, which would begin the process of liquidation, but the case has dragged on while parties tried to broker a deal out of court. Evergande's troubles have become a symbol of the property crisis in China. Experts fear the fall of the company could trigger massive economic shockwaves.

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