Hong Kong court orders liquidation of Evergrande
Decision could lead to complex winding-up process for debt-laden Chinese developer
A Hong Kong court today (January 29) issued a liquidation order against Evergrande, more than two years after it defaulted on its offshore debt.
Justice Linda Chan of the High Court said the Chinese property developer had failed to put forward a viable restructuring plan.
Trading in Evergrande Group’s shares was suspended after the stock plunged 21% today, giving the company a market value of just HK$2.15 billion (US$275 million). Having once been China’s second-largest developer, with a market
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