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Sunday, January 28, 2024

China Evergrande Receives Winding-Up Order From Hong Kong Court

  • Order may end up in new management, judge says in order
  • Trading in the stock halted after court orders wind-up

China Evergrande Group was ordered to be liquidated by a Hong Kong court, a stunning legal coda for the world’s most-indebted property developer.

A wind-up could end up in management being replaced and addressing some issues, Judge Linda Chan said in the city’s High Court on Monday morning.

https://www.bloomberg.com/news/articles/2024-01-29/china-evergrande-receives-winding-up-order-from-hong-kong-court

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