Hong Kong High Court orders liquidation of Evergrande - Asia. The order came just over two years after the group's official default at the end of 2021.
The decision is set to test the clout of Hong Kong courts in China. An estimated 1.5 million home buyers have already paid the builder for unfinished homes the equivalent of an original value of around 90 billion dollars. The stock markets of Shanghai (-0.92%) and Shenzhen (-2.42%) performed poorly after the sentence.