A Hong Kong court on Monday ordered the liquidation of property giant China Evergrande Group, a move likely to send ripples through China's crumbling financial markets as policymakers scramble to contain a deepening crisis. The decision to liquidate the world's most indebted developer with more than $300 billion of total liabilities was made by Hong Kong Justice Linda Chan, who noted Evergrande had been unable to offer a concrete restructuring plan despite months of delays. Chan will deliver her reasons for granting the liquidation at 2:30 pm (0630 GMT).
HONG KONG A Hong Kong court on Monday (Jan 29) ordered the liquidation of property giant China Evergrande Group, a move likely to send ripples through China's crumbling financial markets as policymakers scramble to contain a deepening crisis. The decision to liquidate the world's most indebted developer with more than US$300 billion (S$400 billion) of total liabilities was made.
HONG KONG: A Hong Kong court on Monday ordered the liquidation of property company China Evergrande Group, a move likely to send ripples through China's crumbling financial markets as policymakers scramble to contain the deepening crisis.