🩸ALERT🩸
The Chinese giant #Evergrande declares itself at #bancarrota
Evergrande's request refers to restructuring proceedings in Hong Kong and the Cayman Islands. Evergrande, one of China's largest companies, has been fending off default fears for years. In 2021, it had up to $310 billion in debts to bondholders, banks, construction contractors and other creditors. Now, China Evergrande appears to be suffering enough to file for bankruptcy.
Chapter 15 bankruptcy protects a company's U.S. assets while they are restructuring the company.
It seems that the imminent drop in the price of #btc has this business group behind it as the main problem….
