Embattled property developer China Evergrande Group said on Friday its application to the U.S. Court for bankruptcy protection is a normal procedure for offshore debt restructuring and does not involve a bankruptcy petition.
The company clarified that its U.S. dollar-denominated notes are governed by New York law and it has applied to the U.S. Court under Chapter 15 of the United States Code for approval of the arrangement under the offshore debt restructuring.
(Reporting by Roushni Nair in Bengaluru)
