China Evergrande Avoids Liquidation With Yet Another Last Chance

Posted on AllSides December 4th, 2023
From The Center

China Evergrande Group was given another two more months by a Hong Kong court to come up with restructuring plan to stave off bankruptcy. High Court Judge Linda Chan decided to adjourn the petition to liquidate Evergrande until January 29 after the property developer’s lawyers had argued that its creditors were not “actively seeking” to wind up the company. The decision came as a surprise to many because Judge Chan had warned Evergrande in late October that today’s hearing would be the last before she would reach a decision on...

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