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China's real estate giant Evergrande files for bankruptcy in the US

China's Evergrande Group filed for bankruptcy in New York on Thursday.
Evergrande was once China's largest property developer by sales, but after borrowing heavily, the company collapsed in 2021, sparking China's worst property market crisis on record.
In March of this year, Evergrande unveiled a multi-billion dollar restructuring plan to pay off its international creditors.
Embattled conglomerate Evergrande rattled global markets in September by warning it could default on its huge debts.
Embattled conglomerate Evergrande has officially filed for bankruptcy. (Getty)
The company had more than $USD 270 billion ($AUD 421 billion) in total liabilities.
Evergrande filed for Chapter 15 bankruptcy protection, intended to help companies deal with insolvency cases involving more than one country.
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