Jakarta, CNBC Indonesia – Chinese property giant Evergrande officially announced bankruptcy, Thursday New York time, United States (US). This happened after the company failed to pay US$ 340 billion or Rp. 4,400 trillion in 2021.
Quoting CNN International , Friday (18/8/2023), Evergrande filed for Chapter 15 bankruptcy protection, which allows US courts to step in when bankruptcy cases involve other countries. Chapter 15 bankruptcy is intended to help promote cooperation between US courts, debtors, and the courts of other countries involved in cross-border bankruptcy proceedings.
Source : CNBC