The ruling cements the homebuilder as the most prominent symbol so far of China’s real estate crisis, which has crimped economic growth and hurt consumer confidence.
China property crisis: R5 trillion in debt Evergrande to be liquidated news24.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from news24.com Daily Mail and Mail on Sunday newspapers.
The impact of the forced sale of assets and debt default on China’s beleaguered property sector and the broader economy had been identified by the RBA as risk to Australia.