Opinion

Evergrande – is it China’s Hanover Finance?

Brian Gaynor
Sat, 25 Sep 2021

Evergrande – is it China’s Hanover Finance?
Evergrande has completed, or partially completed 787 projects. (Image: Deposit Photos)
Brian Gaynor
Sat, 25 Sep 2021
It may seem strange to compare the troubled property giant, China Evergrande Group, with Mark Hotchin and Eric Watson’s Hanover Finance, but there are similarities.Evergrande can also be compared with Colin Reynolds and Peter Francis’ Chase Corporation and a huge number of other failed property groups.The most obvious comparison is that these property-related organisations have huge amounts of debt secured against property, and these borrowings have to be repaid.This debt is usually rolled over, and often increased, but major proble...

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