China’s Evergrande files for bankruptcy | CNN BusinessChina’s Evergrande Group — once the country’s second-largest property developer — filed for bankruptcy in New York on Thursday. The beleaguered firm borrowed heavily and defaulted on its debt in 2021, sparking a massive property crisis in China’s economy, which continues to feel the effects. Evergrande filed for Chapter 15 bankruptcy protection, which allows a US bankruptcy court to step in when a
