China’s Evergrande Group, the world’s most indebted property developer, has filed for bankruptcy protection in the United States as it attempts to restructure and reach an agreement with creditors.Evergrande, once China’s top developer, defaulted on its more than $300bn in debt in 2021, becoming a poster child for China’s property crisis.Evergrande, as well as an affiliate Tianji Holdings, filed for Chapter 15 bankruptcy protection in a New York court on Thursday.
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