World's most indebted realty firm goes bust
Edited By WION Video Desk
Published: Aug 18, 2023, 04:55 IST | Updated: Aug 18, 2023, 04:55 IST
Chinese real estate behemoth, evergrande, has filed for protection from creditors in a US Bankruptcy court. Evergrande, which is the world's most indebted property developer, has become the poster child for China's ongoing property crisis. The company has filed for protection under Chapter 15 of the bankruptcy code. This chapter shields non-US Companies that are undergoing restructurings from creditors.
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