Offshore creditors of China Evergrande Group are considering joining a court petition to liquidate the cash-strapped developer if it fails to present a new debt restructuring plan by the next month. This creditor group holds a significant portion of Evergrande's offshore bonds, potentially strengthening the legal action initiated by an investor in a Hong Kong court. Evergrande's previous offshore debt restructuring plan, announced in March, faces uncertainty as the company is unable to issue new debt due to a regulatory investigation into its main unit in China. The ongoing turmoil in China's debt-heavy property sector poses a threat to Beijing's economic stability efforts and raises concerns about a potential spillover into the country's banking system. Evergrande has been seeking creditors' approval for its proposals to restructure $31.7 billion in offshore debt, which includes bonds, collateral, and repurchase obligations. The plan offers options such as swapping debt holdings into new bonds with maturities of 10 to 12 years.