A significant group of offshore creditors of China Evergrande Group is considering joining a court petition to liquidate the financially troubled developer if it fails to present a new debt restructuring plan by next month, according to two sources familiar with the situation.This creditor group holds a substantial portion of Evergrande's offshore bonds, and their involvement would add significant weight to the petition previously filed against the developer by an investor in a Hong Kong court.Evergrande's offshore debt restructuring plan, revealed in March, has faced uncertainty following the company's announcement that it cannot issue new debt due to an ongoing regulatory investigation into its primary unit in China.The deepening turmoil in China's debt-laden property sector poses a risk to Beijing's efforts to stabilise the economy and raises concerns among investors about potential repercussions in the country's banking system.Evergrande has been seeking approval from creditors for its proposals to restructure offshore debt amounting to $31.7 billion, including bonds, collateral, and repurchase obligations. The plan included various options for offshore creditors, such as exchanging some of their debt holdings for new bonds with maturities of 10 to 12 years.A group of Evergrande bondholders, surprised by the company's announcement that it cannot issue new notes, has been trying to arrange meetings with the developer for more information.If Evergrande fails to submit a new debt restructuring plan by October 30, this creditor group is prepared to support the existing winding-up petition filed against the developer. While this group had initially favoured finding a restructuring solution for Evergrande's debt, the recent announcement has dimmed hopes for a resolution.The petition to liquidate Evergrande was filed by Top Shine Global, an investor in Evergrande unit Fangchebao, in June 2022. The hearing for that petition was adjourned to October 30 to await the outcome of Evergrande's creditor meeting to vote on its debt restructuring plan, which requires approval from over 75% of each debt class.The situation remains uncertain, with the timing and outcome of the creditor meeting now in doubt. Evergrande has not yet responded to requests for comment.