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The Guardian - AU
The Guardian - AU
Business
Helen Davidson in Taipei, and agencies

Evergrande collapse: Hong Kong court orders liquidation of China property giant

Evergrande China Hong Kong
A woman walks next to an Evergrande housing complex in Beijing, China.
An Evergrande housing complex in Beijing, China. A Hong Kong judge has ordered the liquidation of the property developer. Photograph: Mark R Cristino/EPA

Embattled Chinese development company, Evergrande, has been ordered to liquidate by a Hong Kong court after an 18-month long hearing.

Evergrande, which holds the ignominious title of the world’s most indebted property developer with about $300bn in liabilities, failed to convince the court that it had a viable restructuring plan, after having been given seven extensions since court proceedings were first brought in June 2022. However it can still appeal.

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