Evergrande: Crisis-hit Chinese Property Giant Ordered To Liquidate

Debt-laden Chinese property giant Evergrande has been ordered to liquidate by a court in Hong Kong.

Judge Linda Chan said “enough is enough” after the troubled developer repeatedly failed to come up with a plan to restructure its debts.

The firm has been the poster child of China’s real estate crisis with more than $300bn (£236bn) of debt.

When Evergrande defaulted two years ago it sent shockwaves through global financial markets.

Evergrande’s executive director, Shawn Siu, described the decision as “regrettable”, but said the company would continue to operate in mainland China.

Kindly share this story:
Kindly share this story:
Share on whatsapp
Share on facebook
Share on twitter
Share on linkedin
Share on telegram
Share on facebook
Top News

Related Articles