– Chinese Property Giant Evergrande Ordered To Liquidate After Failing To Reach Deal With Creditors:
In a historic development for the bankruptcy-shy China, on Monday, a Hong Kong court ordered China Evergrande – once the country’s largest real estate company – to be liquidated, opening a new and unpredictable phase in the collapse of the world’s most indebted property developer. The liquidation order comes more than two years after the company’s official default, which triggered a cash crunch for Chinese developers that has crippled what was once the world’s largest asset class, and is still hobbling the world’s second-largest economy.
* * *
PayPal: Donate in USD
PayPal: Donate in EUR
PayPal: Donate in GBP