Chinese property developer Evergrande Group has filed for Chapter 15 bankruptcy protection in a US bankruptcy court, CNBC reports.
In the filing, the company referenced ongoing restructuring proceedings in Hong Kong, the Cayman Islands, and the British Virgin Islands.
The company aims to seek recognition for the offshore debt restructuring schemes in these regions.
Evergrande clarified that this application is part of the debt restructuring process and not a bankruptcy petition.
This move comes after Evergrande defaulted in 2021 and announced an offshore debt restructuring program.
