China’s Evergrande , Is Ordered to Liquidate.<br />Hong Kong's High Court made the <br />liquidation order on Jan. 29, CNN reports. .<br />It seems to me that the interests <br />of the creditors will be better protected <br />if the company is wound up by the court, <br />so that independent liquidators can <br />take control over the company, Judge Linda Chan, via ruling.<br />The ruling comes after the most indebted property developer in the world failed to come to an agreement with overseas creditors about restructuring its debt for the past 19 months. .<br />According to court documents, Evergrande owes overseas creditors $25 billion.<br />In 2021, the embattled real estate <br />giant defaulted on its debt. .<br />The company filed for <br />bankruptcy last year in New York. .<br />According to Evergrande CEO Xian En, <br />the liquidation won't affect subsidy operations, <br />as they are "independent legal entities.".<br />At present, the management and operation <br />systems of Hengda Real Estate Group and <br />other domestic and overseas subsidiaries as <br />independent legal entities remain unchanged, Evergrande CEO Xian En, to '21st Century Business Herald'.<br />Kaiyuan Capital chief investment officer <br />Brock Silvers echoed that claim, but <br />pointed to the country's real estate crisis. .<br />Today’s liquidation order will have very <br />limited immediate impact on Evergrande’s <br />onshore operations or assets, Brock Silvers, chief investment officer for <br />Hong Kong-based Kaiyuan Capital, via CNN.<br />Evergrande’s offshore liquidation was <br />mostly expected, but it’s still a significant <br />setback for an already troubled onshore <br />real estate sector, one which will further <br />decay investor sentiment, Brock Silvers, chief investment officer for <br />Hong Kong-based Kaiyuan Capital, via CNN
