A Hong Kong court has ordered Evergrande to wind up as a result of its failure to reach a deal with major creditors after marathon weekend negotiations ended in a stalemate over offshore debt restructuring.
This was reported by the media of the former British colony.
Evergrande's executive director, Shawn Siu
, called the Hong Kong High Court's decision to order the liquidation of the Shenzhen giant burdened by around $330 billion in debt "very regrettable".
"Today's ruling is contrary to our original intentions," noted the manager speaking to the Chinese economic newspaper 21st Century Business Herald, his first comment on the developments.
"We can only say that we have done our best and it is very regrettable," he added, that the group "will face the difficulties and problems and will take all appropriate legal measures."
Despite the liquidation, against which an appeal is possible, the group will do everything possible "to consistently continue the normal functioning of its activities with the premise of safeguarding the rights and legitimate interests of domestic and foreign creditors" , the manager further observed.
At the same time, Evergrande "will also proactively communicate with the liquidator, cooperate in accordance with the law in carrying out relevant procedures, and follow international practices and market rules to promote debt settlement work and other key tasks, including ensuring the delivery of properties."
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