According to the company, both are "working normally" in
The company faced Wednesday the possibility of incurring its first extraterritorial debt default, which could trigger claims from other creditors by entering a "cross default" situation.
Although early Thursday there was still no official record of a deadline or news that any payment had been made, it is estimated that the company would face the end of the 30-day extension it entered last month after failing to pay some
The agency has not confirmed whether it defaulted on that amount and has only said it is looking for a "holistic" solution to its problems.
The developer said last week that it is not able to meet all these obligations on time after suffering "notable pressure" on its sales, which have fallen 44 percent year-on-year in the first three quarters and, for example, also reflect a collapse of more than 80 percent in September data.
This has caused
At the end of June, the group had a total debt of about
In the first half, the developer lost about
The financial position of many Chinese real estate companies worsened after, in
In recent months, given the situation, the government announced various support measures, with state banks also opening multimillion-dollar lines of credit to various developers. EFE
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