China Evergrande’s motion to withdraw Chapter 15 petition approved

By Sarah Lizee

Olympia, Wash., April 23 – China Evergrande Group’s motion seeking withdrawal of its Chapter 15 bankruptcy petition was approved on Monday by the U.S. Bankruptcy Court for the Southern District of New York.

As a reminder, the High Court of Hong Kong ordered on Jan. 29 that China Evergrande Group be wound up.

Edward Simon Middleton and Wing Sze Tiffany Wong, both of Alvarez & Marsal Asia Ltd., were appointed as joint and several liquidators.

The company said that based on its current situation, it cannot implement the restructuring that it had planned when it made the Chapter 15 filing.

The real estate development company is based in Shenzhen, China. The company filed Chapter 15 bankruptcy on Aug. 17, 2023. The case number was 23-11332.

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