Evergrande was issued a liquidation order, and the real estate giant is in a worrying situation.
On January 29, the High Court of Hong Kong issued a winding-up order against China Evergrande, and China Evergrande's share price**, which subsequently triggered Rule 6 of the Main Board Listing Rules of the Hong Kong Stock ExchangeArticle 013, suspension of trading.
In the evening, China Evergrande issued an announcement saying that liquidators had been appointed, and the head of the intellectual property practice of King & Wood Mallesons International Center said that although the liquidation order will not substantially affect domestic business operations, in the case of subsequent liquidation, China Evergrande's restructuring has almost no foundation.
Sean, executive president of Evergrande Group, said that he would actively communicate with the liquidators in the future. In addition, Evergrande will also steadily promote key tasks such as ensuring the delivery of buildings, and the group will face difficulties and problems. Li Shuguang, a professor at China University of Political Science and Law, also said that the direct impact of the winding-up order on the rights and interests of onshore bondholders is limited. Sean said that in the future, he will actively communicate with the liquidators, take all legal and compliance measures, and steadily promote the normal operation of the group's business on the premise of protecting the legitimate rights and interests of domestic and foreign creditors.
In any case, I hope that Evergrande can get out of the predicament as soon as possible, and at the same time, I hope that all Evergrande employees can be safe, and we will continue to pay attention to the development of this matter. Hotspot Engine Program