Evergrande's Liquidation: A Significant Turn in China's Property Crisis The Hong Kong court has ordered the liquidation of the heavily indebted Chinese real estate giant, Evergrande. Judge Linda Chan’s decision came after Evergrande’s repeated failures to present a viable plan for restructuring its overwhelming debt, exceeding $300 billion. This ruling marks a crucial development in China’s real estate sector crisis, although its impact on mainland China remains uncertain. Evergrande, once a symbol of the industry’s turmoil, sought an additional three-month extension on Friday but was denied. Alvarez & Marsal Asia has been appointed as the liquidator to manage the process. The managing directors emphasized their focus on preserving as much of the business as possible through restructuring or continued operations. The situation has caused widespread concern in the investment community, drawing comparisons to the Lehman Brothers collapse and its triggering of the global financial crisis. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Gold Hits Highest Settlement in Over a Week READ MORE The High Cost of Returning to the Office: Survey Reveals Increased Employee Resentment and Costs READ MORE Weak July Jobs Data Stirs Recession Fears, but Economists Urge Caution READ MORE Global Gold Demand Hits Eight-Year High in Q1, Fueled by Investment and Central Banks READ MORE World Economic Forum (WEF) in Davos: The Polycrisis READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment