Two years after its default marked a key moment in China’s property crisis, the world’s most indebted developer may be heading for another bleak milestone: liquidation.
China Evergrande Group faces a Hong Kong court hearing on Monday over a creditor request to wind up the company, a lawsuit that’s lingered for about 18 months. The developer must convince the judge that it has a concrete debt restructuring plan. Failure to do so will likely mean liquidation, leading to more chaos in its operations and further denting sentiment in the housing market.
Evergrande Faces Final Chance to Avoid Liquidation by HK Court - Bloomberg
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