Always a pleasure to see you. This is a company that almost collapsed two years ago. Why is it filing for bankruptcy in the United States . I think it is a legal move. The Debt Restructuring Talks were already going on with hong kong, cayman islands, word has holding companies. The advantage for evergrande to file for bankruptcy in america is a gives it some protection against us creditors for the duration of that Court Process. I5 creditors for the duration of that Court Process Court Process. Is there a lot of exoosure Court Process. Is there a lot of exoosure for Court Process. Is there a lot of exposure for foreign Court Process. Is there a lot of. Exposure for Foreign Companies Court Process. Is there a lot of exposure for Foreign Companies here . I think there is a certain amount of exposure. There are enormous amounts of debts, large amounts of the offshore bonds have lost their value and i believe many of the less risk taking investors already sold their offshore bonds a couple
Bankruptcy protection in the us under chapter 15 which governs Foreign Companies in the us, protecting them from creditors that might want to sue them. You have probably heard of chapter 11. That typically governs American Companies but it is chapter 15. According to Court Filings these negotiations are ongoing in hong kong, canaanite and British Virgin islands. We have reached out to evergrande that have not had conversation. To those who have wondered if they have ever thought of evergrande before it is chinas huge property giant. They have about 1300 projects across 280 different cities in china and they invest in everything, not just property. They have an electric vehicle maker and a football club, but as i mentioned, 2021 was when we saw the Company Default on its debts, sending shockwaves across the Global Financial system and triggering a string of defaults from builders who owed money to evergrande or expected them to complete some contracts. We have seen 40 or the companies t
Mexican and colombian cartels have infiltrated local gangs as they vie for lucrative drugs routes. Ecuador was hit hard by covid and theyve taken advantage of a country broken by a pandemic and by corrupt politics. The police are at pains to show me theyre fixing the problem, but when theyre having to protect themselves with sandbags in the police station, you realise this is a war without end. This used to be one of the main routes for traffickers. People would come up here with Stolen Phones and jewellery and exchange those goods for drugs up here, but the police have taken back this area. That said, the police have lost so much more control of the city of guayaquil. The bars on all the windows in this neighbourhood tell you all you need to know about the lack of security here. Angie fears for her four children. The police are powerless, she says. Just two weeks ago her neighbour was shot dead outside his daughters school. Translation all i want is security, thats the only thing that
and professor steve h hanke from johns hopkins university. he served on president reagan s council of economic advisers. we will bring you up to date in the case of the first american journalist to face espionage charges in russia since the soviet era. evan gershkovich has had an appeal against his pre trial detention rejected. and we will look at why encrypted messaging services like whatsapp are urging the uk government to make changes to the online safety bill. but first, our top story on the programme, the dominion versus fox trial. it s been variously described as explosive a bombshell trial, and today it got under way in the us. a company that makes voting machines dominion suing the conservative fox news network for defamation. and in the last few minutes, we have heard it has settled. you will remember that it was due to start yesterday. there were delays for 2h hours. the case had got under way, but we understand it has now settled. our correspondent michelle f
to be charged with a criminal offence. tonight, mr trump is meeting with his advisors in trump tower, no doubt discussing the charges he is set to face connected to hush money paid to porn actor stormy daniels in the lead up to his campaign for the presidency in 2016. the exact charges he faces will be disclosed in full in court tomorrow. mr trump denies any wrongdoing, calling it a witch hunt. and in the city, police are on high alert with barricades erected around trump tower and the manhattan criminal court where mr trump will appear tomorrow. bbc news is covering this story from all angles tonight. joining me live to discuss all this, sarah krissoff, former assistant us attorney for the southern district of new york doug jones, former democrat senator for the state of alabama, and pete king, former republican congressman for the state of new york. but first, let s talk to our correspondent michelle fluery, who s in new york. where all the action is happening right now. yo