Justice Linda Chan, of the Hong Kong High Court, decided on Monday, January 29, to liquidate Chinese property developer Evergrande Group, which has more than $300 billion of total liabilities and around $240 billion of assets.
Chan noted that no satisfactory restructuring plan has yet to be put in place two years after a default on a bond repayment.
The High Court has appointed Edward Middleton and Wing Sze Tiffany Wong, managing directors of Alvarez Marsal Asia, as the liquidators of China Evergrande Group. Middleton has extensive experience in insolvency and restructuring, including as the lead liquidator of Lehman Brothers' Asia operations. Wong has...
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