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 offsho
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 china s 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
meanwhile, tributes have been paid to the five men who were on the sub including british businessman shahzada dawood. well, shahzada dawood was a supporter of the british asian trust. richard hawkes is the chief executive of the organisation and hejoins us now. i m sorry for your loss, richard, i m sorry foryour loss, richard, of course i m sorry for your loss, richard, of course it s a difficult time for friends and family of mr dawood. tell us more about him.- friends and family of mr dawood. tell us more about him. thank you very much tell us more about him. thank you very much for tell us more about him. thank you very much for your tell us more about him. thank you very much for your sympathy - tell us more about him. thank you very much for your sympathy and l very much for your sympathy and condolences. obviously all of us at the british asian trust are devastated by this terrible tragedy. shahzada dawood was an incredibly lovely man, i had the great pleasure of k
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