BEIJING: Deeply indebted Chinese developer Country Garden has delayed the deadline for a vote by bondholders on whether to extend repayment on a key note until next week, as it flirts with a potentia
has delayed the deadline for a vote by bondholders on whether to extend repayment on a key note until next week, as it flirts with a potentially catastrophic default, Bloomberg reported on Friday .
However Bloomberg News, citing a filing to the Shanghai Stock Exchange's private disclosure platform, reported just hours before the original deadline that the company had pushed it back to Aug 31. But a years-long government credit crunch and crippling debts among many developers have hit the sector hard in recent years.
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