Evergrande Seeks Shelter From Creditors in US Ahead of Votes (1)

China Evergrande Group, the real estate giant whose default two years ago accelerated a broader property debt crisis in the country, sought Chapter 15 bankruptcy protection in New York on Thursday.

The move protects it from creditors in the US while it works on a restructuring deal elsewhere. The Chinese homebuilder’s Chapter 15 petition references restructuring proceedings being carried out in Hong Kong and the Cayman Islands.

The petition is “normal procedure” since Evergrande’s dollar bonds are governed by New York law, the company said in a Hong Kong exchange filing Friday. The Chapter 15 filing is “for recognition ...