HK Honorable Judge order Xiasuay Evergrande to liquidation this morning....kym?

[k1976]

https://www.cnbc.com/2024/01/29/asia-markets.html

 

[k1976]

Evergrande shares halted after Hong Kong court orders liquidation​

Shares of China Evergrande were halted after plunging over 20% in early trading on Monday after a Hong Kong court ruled to liquidate the embattled property developer.
41 MINUTES AGO

 

[k1976]

https://www.google.com/amp/s/www.bbc.com/news/business-67562522.amp


Debt-ridden Chinese property giant Evergrande has been ordered to liquidate by a court in Hong Kong.
Judge Linda Chan said "enough is enough" after the property giant failed to come up with a restructuring proposal.

Evergrande has been the poster child of China's real estate crisis with over $325bn (£256bn) of liabilities.

When Evergrande defaulted two years ago it sent shockwaves through global financial markets.

 

[k1976]

The decision is likely to send ripples through China's financial markets at a time when authorities are trying to curb a stock market sell-off.

Evergrande shares fell by more than 20% in Hong Kong after the announcement. Trading in the shares has now been suspended.
China's property sector contributes roughly a quarter of the world's second biggest economy.

Liquidation is a process where a company's assets are seized and sold off. The proceeds can then be used to repay outstanding debts.
However, whether this process is followed may depend on the Chinese government and the liquidation order does not necessarily mean that Evergrande will go bust and collapse.

The case was brought by one of its investors, Hong Kong-based Top Shine Global, in June 2022 which said that Evergrande had not honoured an agreement to buy back shares.
But what they owed is a fraction of Evergrande's total debts.

The vast majority of the money it owes is to lenders in mainland China who have limited legal avenues to demand their money.

Foreign creditors, in contrast, are free to bring cases to court outside mainland China and some have chosen Hong Kong, where Evergrande and other developers are listed, to bring lawsuits against them.

 

[Boonsiong]

Confirm already ?

 

[k1976]

Please appreciate we have good man who take care of Singapore prosperity

 

[k1976]

U can ask BBC..they update 5m8ns ago

Confirm already ?

 

[k1976]

Confirm already ?

Of course, our 160 All Holy Turth news also report 17min ago

https://www.straitstimes.com/busine...rgrande-back-in-court-for-liquidation-hearing

 

[Boonsiong]

Wow. But again HK judgements have no credibility because China communist terrorists can overwrite HK judgments

 

[k1976]

HONG KONG – A Hong Kong court on Jan 29 ordered the liquidation of China Evergrande Group, a move likely to send ripples through China’s crumbling financial markets as policymakers scramble to contain the deepening crisis.

Evergrande shares plunged 20.9 per cent in Hong Kong before the hearing. Trading was halted in the company and its listed subsidiaries China Evergrande New Energy Vehicle Group and Evergrande Property Services after the verdict.

The decision to liquidate the world’s most indebted developer with more than US$300 billion (S$402.6 billion) of total liabilities was made by Hong Kong Justice Linda Chan, who noted Evergrande had been unable to offer a concrete restructuring plan despite months of delays.

 

[k1976]

then, will be even better
as investor are swip saw in uncertainty mah

Wow. But again HK judgements have no credibility because China communist terrorists can overwrite HK judgments

 

[k1976]

Best returns in market is always happen in the.moment of 可以还是不可以，Rothchid Family know the BEST

 

[congo9]

So did the Judge ask permission from the CCP highest authority to make such decision ?

HK think that they have the highest power in HK affair. They must ask permission from XJP.

 

[k1976]

From Bloomberg Beedio 35min ago

 

[k1976]

So did the Judge ask permission from the CCP highest authority to make such decision ?

HK think that they have the highest power in HK affair. They must ask permission from XJP.

Just imagine after eating so many free lunch or dinner since 1990, will u foot the bill?

 

[k1976]

the key is bao jiak foreign investors, just like so many saga...then can heng ong huat mah

 

[k1976]

So did the Judge ask permission from the CCP highest authority to make such decision ?

HK think that they have the highest power in HK affair. They must ask permission from XJP.

If no permission, the honorable judge dare to announce ?

Given his Gao Gao salary and satik reputation at risk?

 

[Boonsiong]

So did the Judge ask permission from the CCP highest authority to make such decision ?

HK think that they have the highest power in HK affair. They must ask permission from XJP.

I think China will get angry soon

 

[k1976]

 

[k1976]

I think China will get angry soon

They ready announce a series of Action Items last week liao....time to close in and jiak Gao Gao

Leemember, human memory is very short...as always