As China Evergrande reportedly begins negotiating creative ways to repay billions owed to offshore bondholders, a paying agent of one of the embattled property giant's USD-denominated bond has sent a letter to investors officially confirming default.
A leading investment advisor has dismissed suggestions China Evergrande is recovering from its debt crisis, warning the real estate giant is more trouble than ever.
China's fourth largest property developer is looking to sell one of its key assets amid fears it'll miss a major debt repayment and spark market panic of a similar scale to that seen during the Evergrande crash.
Even with a seemingly insurmountable debt burden the China Evergrande catastrophe many predicted has been avoided. Now there are signs the company could be back on track.
The co-pilot of China Eastern Airlines flight MU5737 crashed the aircraft in a murder-suicide after losing his life-savings in the Evergrande debt crisis, according to speculation being reported in Chinese media.
Alarm bells are ringing for observers of the Evergrande crisis, with an announcement the auditor of another major Chinese property developer has resigned.
China Evergrande has been accused of conducting a "fake" conference call with creditors while it works on a restructuring proposal that could see the property giant dismantled.
Chinese state media is reporting Guangdong provincial government officials have moved in on China Evergrande's Shenzhen headquarters.