China's once primary property developer, Evergrande Group, has been ordered to liquidate following a High Court ruling. The court ordered the liquidation after the firm failed to come up with a convincing restructuring plan. This marks a new low in China’s property crisis and is likely to send shock waves through the Chinese real estate industry. The forced liquidation epitomizes the struggles of China's property sector, with sales down nationwide and millions of homes paid for but not delivered. The ruling could pit Hong Kong’s courts against a Chinese government determined to restore public confidence in a struggling market. The collapse of Evergrande has left around 20 million unfinished housing units, leading to a loss of faith in the real estate market among Chinese buyers.
Here's what to know about the collapse of China's Evergrande property developer - NPR https://t.co/fs0JrtZ41i
In Shijiazhuang, China, an unfinished apartment complex serves as a daily reminder to the city's 11 million residents of Evergrande's collapse, once China's largest developer. Read more: https://t.co/cMO0NFtc3k https://t.co/ZQwIPhrVim
In Shijiazhuang, China, an unfinished apartment complex serves as a daily reminder to the city's 11 million residents of Evergrande's collapse, once China's largest developer https://t.co/w7LBMIPt98 https://t.co/5kp2v4e4hn
The collapse of Evergrande, once the largest developer in China, has left behind around 20 million unfinished housing units. As a result, Chinese buyers have lost faith in the real estate market. Read more: https://t.co/cMO0NFsEdM https://t.co/dI0x2OSy0G
The collapse of Evergrande, once the largest developer in China, has left behind around 20 million unfinished housing units. As a result, Chinese buyers have lost faith in the real estate market https://t.co/w7LBMIPt98 https://t.co/xuZDGF0JJ0
A Hong Kong judge ordered the property giant China Evergrande Group to liquidate, but courts in mainland China will set the timeline. Read the China Brief newsletter: https://t.co/3I9Si7TtCi
Evergrande has been ordered to liquidate by a Hong Kong court, but it'll be an arduous battle trying to get investors back even a sliver of the billions of dollars they’re owed https://t.co/EdTBzFUzqU
If the lack of buyers for a prime office tower and a mansion in Hong Kong are any guide, China Evergrande Group’s liquidators have a long road ahead of them. https://t.co/KqHYBxYRBV
If the lack of buyers for a prime office tower and a mansion in Hong Kong are any guide, China Evergrande Group’s liquidators are in for a long road ahead https://t.co/wBFp5VXoAn
The end of China Evergrande is near, and foreign investors face a long, and likely bumpy, road trying to recover billions of dollars of investments in the property developer https://t.co/CbSToGTfpi
China Evergrande's liquidation order cements the downfall of a company that exemplified the country’s real estate boom and bust. For global investors, what happens to the remnants will have implications far beyond one property developer https://t.co/bQZu1NK1v5
A judge has ordered a liquidation of Evergrande, the world’s most indebted real-estate developer. The ruling could pit Hong Kong’s courts against a Chinese government determined to restore public confidence to a struggling market https://t.co/htCfakx5R5 👇
Order to liquidate property giant China Evergrande is just one step in fixing China’s debt crisis https://t.co/0y6FKbIOtV https://t.co/RidfCov5l5
A Hong Kong court's order to liquidate China Evergrande, the world's most heavily indebted real estate developer, is only a tentative step toward resolving a debt crisis that is haunting financial markets and dragging on the Chinese economy. https://t.co/OZaIqEkrTc
NPR quotes @KennedyCSIS on the collapse of Evergrande. Its business model, like that of other real estate developers in China, is pre-sold housing ... It has led hundreds of thousands of Chinese to buy homes that now have no timeline—& perhaps no hope—of ever being completed. https://t.co/zHZoqhLls4
During proceedings at Hong Kong’s high court, judge Linda Chan lowered the boom on China’s giant real estate operator Evergrande. Chan said “enough is enough” and ordered a liquidation of one of China’s great Ponzi finance schemes. When cash from operations isn’t large enough…
A Hong Kong court on Monday ordered Evergrande to be wound up after more than two years since defaulting on its debts, marking another grim milestone for Hui Ka Yan, once Asia’s richest person. https://t.co/3nad3QSuV6
What Evergrande's collapse means for China's economy. https://t.co/FWGmnr2GE5
The poster child of China’s property crisis is no more. But the mess that triggered the downfall of China Evergrande Group is far from over. https://t.co/PlU1vc560R https://t.co/PlU1vc560R
The Monday ruling to liquidate China Evergrande means creditors of the world’s most indebted developer face a prolonged and complicated process of seizing assets to claw back at least some of their money. Read it here in The Brink. https://t.co/rwCRTkWh6G
Order to liquidate property giant China Evergrande is just one step in fixing China's debt crisis https://t.co/lr9l2Y7VNO
A Hong Kong court has ordered the failed Chinese property developer, China Evergrande, to liquidate. The process by which the company is sold for parts will be closely watched at a time when global investors have quickly been losing confidence in China. https://t.co/HEaXgrWuHN
The poster child of China’s property crisis is no more. But the mess that triggered the downfall of China Evergrande is far from over. @wsj_douglasj @yifanxie https://t.co/VJkHxzDIJv https://t.co/VJkHxzDIJv
Evergrande liquidation highlights investor despair at China debts - Reuters https://t.co/Grj30vbgRx
Evergrande’s liquidation marks a new low in China’s property crisis—it is far from the end of it https://t.co/LiYKfKsACP 👇
Evergrande liquidation highlights investor despair at China debts https://t.co/J3Wb2OYcOu https://t.co/GIZhXDvtIS
CHINA EVERGRANDE ORDERED TO LIQUIDATE BY HONG KONG COURT (Reuters) A Hong Kong court on Monday ordered the liquidation of China Evergrande Group, a move likely to send ripples through China's crumbling financial markets as policymakers scramble to contain the deepening crisis. https://t.co/XpIhLhDdiQ
⚠️ ANALYSIS-EVERGRANDE LIQUIDATION HIGHLIGHTS INVESTOR DESPAIR AT CHINA DEBTS (Reuters) A liquidation order for China's most debt-laden developer begins a drawn-out process for creditors that is likely to lay bare the depths of China's real-estate downturn and leave builders… https://t.co/JiTaO3KxZe
⚠️ ANALYSIS-EVERGRANDE'S FATE HINGES ON RECOGNITION OF CHINA AUTHORITIES (Reuters) Any liquidation of property giant Evergrande hinges on Chinese authorities recognising the ruling of a Hong Kong court, in a decision that could also effect the city's standing as a global…
The forced liquidation of China Evergrande epitomizes China's property sector struggles: Nationwide, sales are down and millions of homes have been paid for but not delivered. https://t.co/Gs6z584Spk
Evergrande’s liquidation is likely to send another shock wave through the Chinese real-estate industry https://t.co/wU7tmSB5yg https://t.co/wU7tmSB5yg
Evergrande collapse means foreign investors in China face even greater uncertainty https://t.co/7cfWDTMTGL
The Economist: "Evergrande’s liquidation marks a new low in China’s property crisis—it is far from the end of it." https://t.co/RBsN5jIRjB
“Enough is enough,” declared a Hong Kong judge of Evergrande and its two-year struggle to avoid repaying its creditors. In a landmark ruling, the court ordered a liquidation of the world’s most indebted real-estate developer https://t.co/kgvmnKNwyw 👇
China’s heavily indebted Evergrande ordered to liquidate https://t.co/pA5mOJcG8d
🔴 Evergrande’s liquidation marks an almighty battle between Wall Street and Beijing Read more👇 https://t.co/Y9xA6WdKvZ https://t.co/S44cwL7QdE
Debt-ridden Chinese developer Evergrande liquidated A court ordered the procedure after the firm failed to come up with a convincing restructuring plan https://t.co/qEPkKPbJyE https://t.co/7jLSGJXgHq
China’s economy is set to be impacted after its once primary property developer Evergrande Group was ordered to liquidate following a High Court ruling. https://t.co/vrFO5EUtkU