Evergrande Faces Rare Hearing, May Lead to Liquidator Selection
- Rare regulating order hearing follows winding-up one on Monday
- Firm is only builder currently facing regulating order hearing
Evergrande has about $327 billion in liabilities.
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China Evergrande Group, the defaulted developer that’s a symbol of the nation’s broader property crisis, faces hearings Monday in Hong Kong including a rare ‘regulating order’ session that could result in the court appointing a liquidator.
Judge Linda Chan, who has presided over a string of developer hearings and ordered the liquidation of one last year, will conduct the hearing on a potential regulating order at 2:30pm Monday, according to information on the city’s judiciary website. Such orders mean that the court would regulate the winding-up process, potentially including appointing a liquidator. The afternoon hearing comes after a session on the winding-up petition at 9:30am.