CNN BUSINESS | Evergrande’s plan to stave off collapse is running into trouble
Hong Kong (CNN) —
Evergrande’s plan to restructure its massive debts is in trouble because of a regulatory probe into its main subsidiary, the embattled Chinese developer said Sunday.
The company said in a statement that it is “unable to meet the qualifications” for issuing new notes, which refer to short or medium-term securities, because Hengda Real Estate Group was being investigated. –read more–
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