Since falling into a debt crisis, giant Chinese private property developer Country Garden announced on Oct. 10 that it has HK$470 million (about US$60 million) due and is expected to be unable to fulfill repayment of all foreign debts even in the grace period. According to the announcement, Country Garden has hired high-profile law firm Sidley Austin LLP to assess the company’s capital structure and liquidity position to formulate an overall solution. The move means that Country Garden’s overseas debt restructuring work has been officially launched. The company said that it hopes to fully resolve its current offshore debt crisis....Read more https://www.theepochtimes.com/china/chinas-property-giant-country-garden-launches-overseas-debt-restructuring-amidst-crisis-5511406