China Evergrande’s Key Unit Ordered to Liquidate by HK Court
- The unit owns stakes in builder’s property management business
- Evergrande’s liquidators filed the petition last September
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A key offshore unit of China Evergrande Group was ordered to wind up in Hong Kong, the latest legal win for liquidators trying to access assets of the world’s most indebted developer.
The decision was presented in a short hearing Friday morning, without much discussion in the courtroom. A year ago, Evergrande Group was ordered to be wound up in Hong Kong, becoming the biggest casualty of the country’s prolonged property crisis.