Debt-laden Chinese property giant Evergrande has been ordered to liquidate by a court in Hong Kong.
Judge Linda Chan said “enough is enough” after the troubled developer repeatedly failed to come up with a plan to restructure its debts.
The firm has been the poster child of China’s real estate crisis with more than $300bn (236bn) of debt.
When Evergrande defaulted two years ago it sent shockwaves through global financial markets.
Evergrande’s executive director, Shawn Siu, described the decision as “regrettable”, but said the company would continue to operate in mainland China.
The firm’s Hong Kong arm was independent from its mainland business, he added in a statement.
While any potential impact of …
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