The yacht "Event", which is believed to be owned by China Evergrande, is docked in Hong Kong, China October 11, 2021.
Evergrande's offshore bondholders are expected to sharpen their focus on offshore assets as the developer's debt restructuring plan flounders with the founder now being investigated over suspected "illegal crimes".
Compared to its $31.7 billion in total offshore liabilities, Evergrande has far fewer assets outside China.
Of the remaining offshore assets of the company and its founder, creditors would need to establish whether they have already been used as collateral to raise funds.
Foreign bondholders' "ability to get to these (offshore) assets is a function of the legal claim - has he (Chairman Hui) pledged it?"
Persons:
China Evergrande, Tyrone Siu, Evergrande, Hui Ka Yan, Hui, Scott Murdoch, Julie Zhu, Marc Jones, Sumeet Chatterjee
Organizations:
REUTERS, Rights, China Evergrande, HK, Reuters, Boeing, Gulfstream, Wall Street Journal, Thomson
Locations:
China, Hong Kong, Sydney, London, Lincoln