do you think they will be able to get their money back? i think that for the major debt holder, the bond order should be, to be honest, we expect this bond order can still only recover approximately 2% or 3% under liquidation scenario and currently the bond issued by evergrande is only trading at 2 cents of the dollar. at this point we believe the most valuable assets owned by evergrande are still in offshore assets which include the share of the publicly serviced and other electric vehicle divisions. meanwhile we think it is virtually impossible to recover anything from its onshore assets. what are the broader implications for the industry from evergrande s liquidation? actually, evergrande is the first developer, first large developer that has been ordered to liquidate. if you look at the previous example, we also saw that the government between hong kong and mainland china china has unusual recognition for insolvency proceedings. so in theory, liquidators from hong kong sh
its outstanding debt. of course, evergrande has more than $300 billion worth of liabilities, reportedly, and it has been trying to come up with this restructuring plan and the judge has been postponing the decision up until now. whether or not this process will be followed remains to be seen because i have been speaking to a pot of expert to say that despite the one country to system slogan there are some thorny jurisdiction system slogan there are some thornyjurisdiction issues. so, even though, if this report is concerned, the liquidator will be appointed by a hong kong court, whether or not beijing would then recognise those liquidators remains to be seen. having said that, the ruling is confirmed is really significant and it will send a shockwave through china s financial markets because for many decades the real estate sector has been a main driver of china s economic growth and also there have been many other developers which have been defaulting just like evergrande, a
you think they will be able to get their money back? i think that apart get their money back? i think that apart from get their money back? i think that apart from the get their money back? i think that apart from the secure i that apart from the secure lender, this should be the one offshore creditors, but to be honest, we expect these bondholders can still on the recover approximately 2% to 3% in a liquidation scenario. currently, by also trading around one to 2 cents on the dollar. so at this point, we believe that the most valuable assets owned by ever grand are still the offshore ones, including the share of the publicly serviced division. so meanwhile, we think that it is virtually impossible to recover anything from its onshore assets. ~ ., anything from its onshore assets. ., ., anything from its onshore assets. ~ . ., , assets. what are the broader implications assets. what are the broader implications for assets. what are the broader implications for the -