China Evergrande says improved internal control may address listing rules

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Trading in the company’s shares was suspended on March 21 last year after it got sucked into a debt crisis.

The company said trading will remain suspended until further notice.

Last week, Evergrande sought protection under Chapter 15 of the U.S. bankruptcy code, which shields non-U.S. companies undergoing restructurings from creditors that would rather sue them or tie up assets in the United States.

The developer said it had appointed RSM Nelson Wheeler Consulting to conduct a review on its internal control and procedures, and Crowe (HK) Risk Advisory to conduct a review on certain issues raised by its former auditor.