China’s Most Insolvent Property Developer, Evergrande, Won’t Be Able To Make Interest Payments (China’s Lehman Moment?)
by confoundedinterest17 According to Bloomberg, Chinese authorities told major lenders to China Evergrande Group not to expect interest payments due next week on bank loans, which takes the cash-strapped developer a step closer the nation’s largest modern-day restructurings, and guarantees that China’s “Lehman Moment” is now just a matter of days, if not hours. According to Bloomberg, citing unnamed sources, … Read more