Evergrande Brings Down The House On Wild Era For China Property

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PEDRO PARDO/AFP via Getty Images International bondholders have low expectations for recouping their money as the world’s most indebted developer is finally ordered to liquidate. After months of delays, a Hong Kong judge finally pulled the trigger on China Evergrande Group (OTCPK:EGRNQ) (3333.HK) last week by ordering the debt-laden developer to liquidate, ending a saga that began with a request from one of its creditors back in 2022. That ruling followed seven delays in a decision on the matter, marking an unofficial end to an era of years of go-go expansion by China’s overheated property sector. China Evergrande’s stock was...