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Jan 30, 2024 · Evergrande had been seeking a $23 billion debt restructuring plan, but that fell apart last year when the company's billionaire CEO, Hui Ka Yan, also known as Xu Jiayin — once one of Asia's richest people — came under investigation for unspecified criminal behavior.
Apr 12, 2024 · Evergrande, holding the dismal title of the world's most indebted property developer, failed to convince the court of a tangible restructuring plan and was subsequently ruled insolvent. Though the firm's borrowing woes began years ago, it was only in 2020 that Chinese regulators began to curtail excessive borrowing by real estate companies.
- Benjamin O'brien
May 8, 2024 · Abstract. In December 2021, Evergrande, the second-largest private property developer in China, defaulted on its debt and became the most indebted firm in the world with over $300 billion in liabilities. Its default marked the beginning of a real estate crisis in China, one that is still in the process of being resolved.
Apr 27, 2023 · The effective date for the restructuring to be implemented is expected to be Oct. 1, while the long-stop date - after which the plan could lapse - is Dec. 15, though both are extendable. WHAT...
Sep 27, 2023 · The chairman of China Evergrande Group has been placed under police surveillance, Bloomberg News reported on Wednesday, raising more doubts about the embattled developer's future as it grapples...
Oct 30, 2023 · A Hong Kong High Court judge has given crisis-hit Chinese property giant Evergrande one last chance to come up with a new deal over its huge debts or face liquidation. A winding-up hearing,...
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Jan 29, 2024 · Evergrande gained a reprieve from the Hong Kong court in December after it said it was attempting to "refine" a new debt restructuring plan of more than $300 billion in liabilities.
