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Fortune

Nicholas Gordon

Evergrande, the world’s most indebted developer, has finally filed for bankruptcy

Evergrande China United States

(Credit: CFOTO—Future Publishing via Getty Images)

Twenty months after it defaulted on its debt and sparked a years-long real estate crisis in China, China Evergrande Group has finally filed for bankruptcy.

The troubled real estate developer, along with two other related business units, asked a court in New York to grant Chapter 15 bankruptcy protection on Thursday.

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