Reported 1 day ago
China Evergrande announced that a Hong Kong court has ordered the liquidation of one of its key offshore subsidiaries, CEG Holdings BVI, following a winding-up petition filed by liquidators. This move is part of ongoing efforts to recover funds from Evergrande, which has over $300 billion in liabilities and has not provided a viable restructuring plan for its $23 billion offshore debt. Trading of its shares remains suspended.
Source: YAHOO