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China's Evergrande heads for liquidation
Mint Mumbai
|January 30, 2024
China Evergrande Group received a liquidation order from a Hong Kong court, setting off a daunting process to carve up one of the biggest casualties of a property crisis that's upending the world's second-largest economy.
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The ruling on Monday from Hong Kong judge Linda Chanis the latest twist in a saga that saw Evergrande amass more than $300 billion of liabilities during China's debt-fueled property boom, before turning into the poster child of a market bust that shows few signs of ending.
The builder was valued at just $275 million on Monday before trading in its shares was halted, down more than 99% from peak.
Esta historia es de la edición January 30, 2024 de Mint Mumbai.
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