Confirmed – A HK court has ordered the liquidation of China Evergrande Group

<p>Earlier:</p><ul><li><a href="https://www.forexlive.com/news/china-property-developer-evergrande-faces-imminent-liquidation-20240129/" target="_blank" rel="follow" data-article-link="true">China property developer Evergrande faces imminent liquidation</a></li></ul><p>Confirmed now, the company will be wound up. Shares in Evergrande, Evergrande New Energy Vehicle, and Evergrande Property Services have been suspended in Hong Kong</p><p>Evergrande first defaulted on its financial obligations in 2021. This followed a Beijing clamp down on lending to property developers in an effort to cool a property bubble just about a year prior.</p><ul><li> a provisional liquidator and then an official liquidator will be appointed</li><li>will take control and prepare to sell the developer's assets to repay its debts</li><li>liquidators could propose a new debt restructuring plan to offshore creditors</li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.