China Evergrande's liquidators seek investors for restructuring

Property giant China Evergrande Group on Tuesday said that its liquidators have achieved only modest asset realisations and are now actively seeking investors for restructuring efforts.

According to a company filing, China Evergrande's liquidity and internal resources remain constrained, posing significant challenges for the embattled developer.

Given the company's substantial indebtedness and operational hurdles, the liquidators expressed uncertainty about achieving a restructuring path without substantial new investment.

Earlier this year, China Evergrande, known as the world's most indebted property developer, faced a court order for liquidation after failing to present a viable restructuring plan. This decision came more than two years after the company defaulted on its offshore debt, following multiple court proceedings.

The company further stated that trading of its shares will remain suspended until further notice, underscoring the gravity of its financial situation.

(With Reuters inputs)