Evergrande Dollar Bond Trustee Citi Hires Mayer Brown as Counsel

A unit of Citigroup, the trustee to a large chunk of China Evergrande Group’s dollar bonds, has retained law firm Mayer Brown to help navigate the unraveling of the world’s most indebted developer, according to people with knowledge of the situation.

Evergrande is moving toward what would be one of China’s biggest restructurings after failing to make two coupon payments on dollar bonds in the past two weeks, as well as on the principal payment for a dollar note that matured Oct. 3.

There was no immediate response from Evergrande to an emailed request for comment sent after ...