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Trump news at a glance: as president’s relations with Nato fray, EU leaders explore their options

Brussels officials will draw up a plan on how to use the EU’s little-known mutual assistance pact in the event of a foreign attack – key US politics stories from Friday 24 April EU leaders have agreed that the European Commission “will prepare a blueprint” on how the bloc will respond if the little-known mutual assistance clause is triggered, according to Nikos Christodoulides, the president of Cyprus, who is hosting the talks. They discussed the mutual defence clause, article 42.7 of the EU treaty, on Thursday night, before reports emerged that the US was exploring how to suspend Spain from Nato. Continue reading... from The Guardian https://ift.tt/D3CeGzI via IFTTT
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China’s struggling property giant Evergrande files for bankruptcy protection in US

The company’s chapter 15 protection will protect its US assets while it attempts a restructuring deal

China’s Evergrande Group, the world’s most heavily indebted property developer and the poster child for the country’s property crisis, has filed for bankruptcy protection in a US court.

The company sought protection under chapter 15 of the US bankruptcy code, which protects its US assets while it attempts a restructuring deal. The code also provides mechanisms for dealing with insolvency cases involving more than one country.

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