Evergrande Scraps Creditor Meetings

Ever Graham planned meetings with key creditors to discuss a major debt restructuring. However, the meetings were canceled due to weaker-than-expected home sales and the need to reassess creditor demands. Class C creditors, a major stakeholder group, have been unsupportive of the restructuring plans, posing a significant hurdle. The company needs 75% support from these creditors but currently has only 30%. Future meeting schedules remain unclear, and the company will update investors when more information is available.

What was the reason for the postponement of the meetings with key creditors?

What challenges does Ever Grand face in winning over Class C creditors?