China orders Liquidation of property giant China Evergrande in Hong Kong
 

https://www.livemint.com/lm-img/img/...6518280747.JPG


https://www.wsj.com/articles/evergra...ng-11633374710

[LU’AN, China—Rows of residential towers,
some 26 stories high,
stand unfinished in this provincial city
about 350 miles west of Shanghai,
their plastic tarps flapping in the wind.]

On the above Link a photo of some of Evergrande's
Buildings - Left Empty


This had to be closed down
in Hong Kong
crazy waste of buildings
and Massive Debt.



[Debt-laden Chinese property giant
Evergrande has been ordered to
liquidate by a court in Hong Kong.
Judge Linda Chan said "Enough is enough"
after the troubled developer repeatedly
failed to come up with a plan to
restructure its debts.

The firm has been the poster child of
China's real estate crisis with more
than $300bn (£236bn) of debt.
When Evergrande defaulted two years ago
it sent shockwaves through
global financial markets.

Evergrande's executive director, Shawn Siu,
described the decision as "regrettable",
but said the company would continue to
operate in mainland China.

The firm's Hong Kong arm was independent
from its mainland business,
he added in a statement.]


https://www.bbc.co.uk/news/business-67562522