Hong Kong court orders China's Evergrande, which owes $300 billion, to liquidate
China Evergrande is one of the biggest Chinese developers that have collapsed under pressure to rein in surging debt the ruling Communist Party views as a threat to China's slowing economic growth.
by The Associated Press
Jan 29, 2024
3 minutes
HONG KONG — A Hong Kong court ordered China Evergrande, the world's most heavily indebted real estate developer, to undergo liquidation following a failed effort to restructure $300 billion owed to banks and bondholders that fueled fears about China's rising debt burden.
Judge Linda Chan said Monday it was appropriate for the court to order Evergrande to wind up its business given a "lack of progress on the part of the company putting forward a viable
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