A Hong Kong court on Monday ordered the liquidation of property company China Evergrande Group, a move likely to send ripples through China’s crumbling financial markets as policy-makers scramble to contain the deepening crisis.
Evergrande, the world’s most indebted developer with more than $300 billion US in total liabilities, sent a struggling property sector into a tailspin when it defaulted on its debt in 2021.
The decision was made by Hong Kong Justice Linda Chan, who said “enough is enough” after Evergrande had failed to offer efficient communications or resolutions over more than 18 months.
The company’s shares were trading down as much as
