Hong Kong court orders Chinese property giant Evergrande to wind up

World Economy

A Hong Kong court on Monday ordered embattled property developer China Evergrande Group to wind up, over a year after a liquidation petition was filed by an investor.

The Hong Kong High Court said the company had failed to come up with a detailed plan to restructure its debts after the case was adjourned last December.

But it is unknown how the liquidation order will affect Evergrande, whose business is largely conducted on the mainland.

The company had been working on a debt restructuring plan with a group of bondholders for almost two years, according to media reports, but an agreement had n...

Kyodo News

Kyodo News