Evergrande has defaulted, some say

German firm launches bankruptcy proceedings against Evergrande.

Has China Evergrande Group, the world’s most indebted property developer, defaulted Members of German market information provider, DMSA Deutsche Markt Screening Agentur, say the Chinese firm has.

Meanwhile, reports by several other media outlets, including Bloomberg and the Wall Street Journal, suggest that the company has so far managed to avert bankruptcy. They detail that some bond holders received payment on November 10, while others including Reuters, claim they remain waiting.

Evergrande owes US$300 billion of debt, including a US$148 coupon payment for offshore bonds which matured in October. However, the company was offered a 30-day extended grace period, until November 10.

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