Evergrande asks international creditors for more time and warns that legal action could be 'destructive'
CNN
Evergrande is still trying to appease growing anger among its offshore creditors, who have threatened to take legal action over the embattled Chinese developer's plans to restructure the business.
The company is now asking international bondholders to give it "more time" to work on a restructuring plan, according to a filing with the Hong Kong stock exchange this week.
Given the size of Evergrande, the number of its stakeholders and the "complexity of the situation," the company "will need more time to fully consider, evaluate and assess comprehensively the number of potential solutions before it can responsibly further engage in substantive negotiations with offshore creditors," it wrote in the filing.
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