Crisis-hit Chinese property giant Evergrande has been ordered to liquidate by a court in Hong Kong. The firm has been the poster child of China’s real estate crisis with more than $300bn (£236bn) of debt. After the troubled developer repeatedly failed to come up with a plan to restructure its debts, Judge Linda Chan said “enough is enough”. Evergrande’s executive director, Shawn Siu, described the decision as “regrettable”, but said the company would continue to operate in mainland China.
It has been a pleasure boys. Remember the good times we had.
Godspeed next week …🍻 🔥
Evergrande is finally finished. pic.twitter.com/ZQl25fd95t
— Wall Street Silver (@WallStreetSilv) January 29, 2024
Here are the facts as the BIGGEST Chinese developer goes under. – Fast clip. A fantastic description of the Chinese housing PONZI scheme and how it all works
A fantastic description of the Chinese housing PONZI scheme and how it all works#Evergrande pic.twitter.com/cCJHYFtBuO
— AMC 4 ALL (@amc4everyone) January 29, 2024
- WHILE WE WERE BEING DISTRACTED BY RIGGED FOOTBALL GAMES, THE LIQUIDATION OF EVERGRANDE IS BEGINNING TO HAPPEN WAS ANNOUNCED. THEY ARE OBVIOUSLY GOING TO USE TAYLOR SWIFT TO DISTRACT. I KNEW SOMETHING WAS UP. BIDEN IS NOW EVEN TALKING ABOUT MAKING A STOP AT HER CONCERT PERFORMANCE
Once the world’s largest real estate developer, Evergrande is now to be liquidated. It has whopping $300 billion of debt, but also $240 billion of assets. So, not too bad. China has refused to bail out billionaires. True free market!
Once the world’s largest real estate developer, Evergrande is now to be liquidated.
It has whopping $300 billion of debt, but also $240 billion of assets. So, not too bad.
China has refused to bail out billionaires. True free market! 😀
— S.L. Kanthan (@Kanthan2030) January 29, 2024
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