China Fortune Land says it has “lost contact” with a money manager that it gave $313 million to, casting a shadow over the future profits of the debt-laden developer t.co/hPcVbntEC9
— Bloomberg Next China (@next_china) December 16, 2021
Fitch downgrades Lanzhou from BB to BB+.
“There is no way we can repay so many creditors with our limited resources,” said an #Evergrande executive, who asked not to be identified. “We will let judges decide who gets paid and how much.”
H/T Financial Times.#EvergrandeCrisis
— CN Wire (@Sino_Market) December 16, 2021