Evrgrande situation isn’t as bad as everyone makes out.
1 min read
Evergrande: China property giant files for US bankruptcy protection https://www.bbc.com/news/business-66540785.amp It’s a sign of things to come but they are protecting their assets when it comes to bankruptcy in the US. They filed for bankruptcy protection and not for bankruptcy itself. China Evergrande Group made the Chapter 15 bankruptcy protection filing in a New York court on Thursday.
Chapter 15 protects the US assets of a foreign company while it works on restructuring its debts. Hopefully the markets should recover well once people understand the difference between bankruptcy filing and this bankruptcy protection filing. What’s your thoughts?
submitted by /u/primordial_gloop
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