Residents pass near the headquarters for Evergrande in Shenzhen in southern China on Sept 23, 2021. (PHOTO / AP)

HONG KONG - A Hong Kong court will hold sanction hearings over whether to approve property developer China Evergrande Group's offshore debt restructuring plan on Sept 5 and Sept 6, the court ruled on Monday.

A convening hearing for Evergrande's offshore debt restructuring plan was held in Hong Kong's High Court on Monday. A separate hearing will also take place at a Cayman Islands court on Tuesday.

With total liabilities of $330 billion, Evergrande is the world's most indebted property developer.

It announced a debt restructuring plan in March, proposing to creditors a basket of options to swap their debt into new bonds and equity-linked instruments.

READ MORE: Evergrande to unveil debt restructure details on Wednesday

Evergrande last week posted a combined loss of $81 billion in 2021 and 2022 and a rise in total liabilities in its long-overdue financial results.