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Reuters

Reuters

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Country Garden expects to reach terms with creditors in February, lawyer tells court

Reuters
Summary
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Country Garden was once China 's biggest developer by sales.

It defaulted on $11 billion in offshore bonds in late 2023 , deepening a debt crisis.

Country Garden said this month it has proposed restructuring that would cut offshore debt by 70% .

Averting liquidation would allow Country Garden to return its focus to a property sector blemished by unfinished homes and shattered buyer sentiment.