Evergrande heads to liquidation in milestone for property crisis

(Image: Bloomberg)

Tue, 30 Jan 2024

By Dorothy Ma, Alice Huang and Pearl Liu(Bloomberg) -- China Evergrande Group received a liquidation order from a Hong Kong court, setting off what’s likely to be a daunting process to carve up one of the biggest victims of a years-long and nationwide property debt crisis.A wind-up will end up in the company being managed by provisional liquidators and addressing issues, including control by founder and chairman Hui Ka Yan, Judge Linda Chan said in the city’s high court on Monday morning. Trading in Evergrande shares was suspen...

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