Read previewChina Evergrande — the world's most indebted property developer — received a liquidation order from a Hong Kong court on Monday, but there may be little left to recover, said experts.
Hong Kong-listed China Evergrande Group's stock price plunged 21% before the court hearing.
But several experts BI spoke to prior to Monday's court order said Evergrande's liquidation will be challenging.
AdvertisementIt's bad news for creditors, Mat Ng, the managing director at Grant Thornton, a professional services firm that specializes in restructuring, told BI.
Despite the complications that could come with Evergrande's liquidation, there may be some upside in the longer run.
Persons:
—, Evergrande, Liquidators, Linda Chan, Chan, Siu Shawn, Mat Ng, Grant Thornton, Ng, That's, John Bringardner, Bringardner, Daniel Margulies, Margulies, Andrew Collier
Organizations:
Service, Business, Evergrande, Reuters, Trading, Securities Times, Deloitte, Investors, Orient Capital Research
Locations:
China, Hong Kong, Evergrande, Asia