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 climbs as cooling US inflation bolsters Fed rate cut bets READ MORE Fed's Rate Cut Expectations Delayed as US Economy Proves Robust READ MORE BRICS: Scotiabank Says US Dollar To Fall in 2024 READ MORE The Great American Housing Squeeze: Construction Costs Out of Reach for Most READ MORE Add a Comment Cancel replyYour email address will not be published.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