Chinese creditors sue Evergrande for $13bn

Chinese creditors have sued Evergrande for more than $13bn in allegedly overdue payments. Domestic companies owed money by the collapsing giant are racing against offshore bondhoders to claw back the money they are owed. A Chinese court assigned to handle civil lawsuits against Evergrande has accepted 367 cases so far, with claims totalling Rmb84bn ($13.2bn). Analysts said the timing of the claims demonstrated that domestic creditors had lost confidence in the ability of Evergrande, the world’s most highly leveraged developer, to pay off its debts well before the default declaration. The FT (£)