Evergrande’s Stalled Turnaround Plan Casts Doubt on Corporate Restructuring in China
Troubled property companies in China may be pushed into liquidation by foreign creditors if regulators block reorganization plans
China Evergrande is at risk of being broken up or liquidated after regulators in Beijing blocked key parts of the embattled property giant’s proposed turnaround plan, a foreboding sign for other troubled real-estate companies in China trying to survive the country’s deepening housing crisis.