Real estate development giant Evergrande transferred $83.5 million in the last 24 hours to a trust account at Citibank and escaped bankruptcy, state media reports.

The funding line in question has a grace period of 30 days so Evergrande was able to gather enough liquidity to meet the payment before that time.

According to an expert in the field the payment postpones the problem and prevents lawsuits from starting to be launched against the Real Estate giant.

It is known that the real estate company has been selling some of its assets where most of the interest comes from Chinese state-owned companies. In fact, this fact may have contributed to Evergrande having managed to "escape" the default already this Saturday.

The company has been selling some assets and the Chinese regime has asked Chinese state-owned companies to bid for Evergrande units they may be interested in - these moves may have been decisive in Evergrande managing to escape default already this Saturday.

Everything leads one to believe, (also taking into account the actual situation of the company), that this interest payment brings a momentary relief.

"This payment gives no more than ′temporary′ relief in a company buried in $300 billion in debt that will have to be restructured," says a leading source in the area, quoted by the Financial Times.

It should be noted that the group had in recent weeks missed four other interest payments issued in the international market.

The Evergrande case led to other real estate companies also defaulting on smaller securities, which fueled warnings of a risk of default across real estate.