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Evergrande winding-up hearing in Hong Kong adjourned again

Evergrande has become a poster child for China’s property crisis since the builder defaulted two years ago. It reported a combined loss of $81 billion in 2021 and 2022.

Evergrande has become a poster child for China’s property crisis since the builder defaulted two years ago. It reported a combined loss of $81 billion in 2021 and 2022. | AFP-Jiji

By Pearl Liu and Dorothy Ma
Bloomberg

Dec 4, 2023

China Evergrande Group won breathing room to strike a restructuring agreement with creditors after a Hong Kong court again pushed back a decision on whether the world’s most-indebted property developer should be wound up.

Judge Linda Chan of the city’s High Court adjourned the proceedings to Jan. 29.

Evergrande’s offshore creditors had demanded controlling stakes in the equity of the builder as well as its two Hong Kong subsidiaries as part of the debt discussions.

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