Chinese real estate giant Evergrande posts $81bn loss

China’s Evergrande Group, the real estate giant, is aiming to complete one of the country’s largest debt restructurings after posting a combined loss of more than $81 billion over two years.

The defaulted real estate giant asked to convene meetings for offshore creditors to approve its credit overhaul plan, after reporting long-delayed financial statements for 2021 and 2022. Court hearings are scheduled to take place next week, exchange filings showed late Monday.

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