China's Evergrande Ordered to Liquidate

2024 • 7min • News • Business


Published On: January 29, 2024 - In a massive setback for China’s real estate sector, Evergrande Group, known as the world's most indebted developer, has been ordered to liquidate by a Hong Kong court after an 18-month long hearing. The Chinese property giant faced a crushing burden of over $300 billion in liabilities, leading to its default on debts in 2021.