Translated by: MOS Media Team – CloudSky

Berlin, Nov. 10, 2021: China Evergrande Group again defaulted on interest payments to international investors. DMSA (Deutsche Market Screening Agentur) invested in one of these bonds and has not received any interest payment until today, the end of the grace period. Now DMSA is preparing bankruptcy proceedings against Evergrande and calls on all bond investors to join it.

Evergrande Group is the second-largest real estate developer in China. According to the data, Evergrande defaulted on the interest of two bonds in early September this year and could not make payments even on the 30-day grace period that ended in October. It is reported that Evergrande will pay interest on three bonds, totaling about $140 million, by November 10 at the latest. DMSA explained that Evergrande’s debts contain cross-default clauses, that is, when any bond involved defaults, all other outstanding bonds of Evergrande will be regarded as “default” together.

Previously, DMSA recognized the default and proved in a study: the bankruptcy of Evergrande, the world’s most indebted corporation, could ultimately lead to a “Great Reset”, i.e. the final meltdown of the global financial system. The U.S. central bank, Fed, confirmed DMSA’s view two days ago. In the Fed’s latest stability report, it explicitly pointed out the impact that the upcoming collapse of Evergrande could have on the global financial system.


Edited by: James Zoebel
Posted by:RonaldS

Reference:
1)https://gettr.com/post/pgmdtn9c19
2)Evergrande officially defaulted – DMSA is preparing bankruptcy proceedings against Evergrande 

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