Evergrande Group ordered by HK court to liquidate. Alvarez & Marshal on behalf of liquidators said it will make the business sustainable, priority to retain, restructure and continue existing business - increasing the chances of repaying creditors and equity holders.
@CNBCi
A Hong Kong court ordered the Chinese property developer Evergrande to liquidate today. The company, which had over $300 billion in debt, failed to make good on its plans for debt restructuring.