China’s government is assembling a group of accounting and legal experts to examine the finances of China Evergrande Group, a potential precursor to a restructuring of the world’s most indebted developer.
Regulators in Evergrande’s home province of Guangdong dispatched a team last month from King & Wood Mallesons, a law firm whose specialties include restructuring, two people familiar with the matter said, asking not to be identified discussing private information. At the urging of Beijing, provincial officials are also sending additional financial advisers and accountants to assess the developer, one of the people said.
The move adds to signs that Chinese authorities are laying the groundwork for what could be one of the country’s biggest debt restructurings. While senior leaders in Beijing have yet to indicate