Evergrande bondholders threaten to sue

A group of bondholders is moving closer to formal legal action against Evergrande after the world’s most indebted property developer made a surprise disclosure that **mystery lenders to one of its subsidiaries claimed more than $2bn in cash**....Bondholders, who have held out hope of recovery on their losses through recourse to Evergrande’s Hong Kong-listed subsidiaries, say the move unfairly removes cash that could have been used to repay the company’s bonds....**Evergrande, which owns more than half of the subsidiary, has not disclosed the identity of who claimed the cash but said yesterday it had set up an independent committee to investigate**


I’m not a lawyer but that last statement does have just a faint hint of a message to the creditors.