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flag Struggling Chinese property firm Country Garden submits debt restructuring plan to avoid liquidation.

flag Struggling Chinese property giant Country Garden has submitted a preliminary offshore debt restructuring plan to some creditors to avoid liquidation. flag The plan includes a revised, weaker cash flow projection compared to earlier estimates. flag The company defaulted on $11 billion in bonds last year and faces a liquidation petition in Hong Kong. flag It aims to gain creditor support before a January court hearing.

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