Always a pleasure to see you. This is a company that almost collapsed two years ago. Why is it filing for bankruptcy in the United States . I think it is a legal move. The Debt Restructuring Talks were already going on with hong kong, cayman islands, word has holding companies. The advantage for evergrande to file for bankruptcy in america is a gives it some protection against us creditors for the duration of that Court Process. I5 creditors for the duration of that Court Process Court Process. Is there a lot of exoosure Court Process. Is there a lot of exoosure for Court Process. Is there a lot of exposure for foreign Court Process. Is there a lot of. Exposure for Foreign Companies Court Process. Is there a lot of exposure for Foreign Companies here . I think there is a certain amount of exposure. There are enormous amounts of debts, large amounts of the offshore bonds have lost their value and i believe many of the less risk taking investors already sold their offshore bonds a couple
Russian media showed damage to an Exhibition Centre in that area, west of the city centre. But it wasnt completely clear whether that damage was caused by debris from the drone falling, or whether actually, the drone hit its target. Drone attacks in areas around moscow are relatively common. In fact, we hear almost every day about drones being shot down or drones being discovered on the ground. But it is relatively rare for a drone to get this far into the city centre and this close to the kremlin itself, about three miles away was where this incident took place. You will remember at the beginning of may, the kremlin itself was attacked by two drones. Will, what can you tell us about humanitarian aid, or the corridor that was set up by ukraine after the deal ended and any further discussions didnt go anywhere . I understand that there is a ship that has got through, any more detail on that . Thats right, there are reports that a ship has made its way through that corridor, which was an
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