Court orders China Evergrande to be dissolved. The group, which is listed on the Hong Kong stock exchange, is the world's most indebted property developer, with the equivalent of more than 300 billion US dollars.
The settlement is likely to further reduce confidence in the struggling real estate market of world's second-largest economy. Other companies in the Chinese real estate industry are also heavily indebted and sometimes fight with creditors in court. The company had previously tried to avert liquidation with a restructuring plan.