Foreign creditors who lent billions to Chinese developers are banding together to try to get a few of their money back by way of sophisticated restructuring plans. This month, the authorities detained its founder, Mr. Xu, on suspicion of what the company referred to as “illegal crimes.” Several other prime executives and workers of its wealth administration arm have been taken in for questioning. “When you’ve 30 years of rising costs, there is not a means you possibly can stop that process with out tremendous pain in every a half of the economy,” stated Michael Pettis, a senior fellow at …