Evergrande offers sales of Hong Kong land despite receiver appointed

Insights 02/06/22, 19:21

China's Evergrande has continued to sell the piece of undeveloped land in Hong Kong to which its lender had appointed a receiver, Reuters reported on Feb. 4.  A source familiar with the matter said the debt-laden company would use the funds from the transaction to pay off its creditor—U.S.-based Oaktree Capital. Evergrande will reclaim the ...

China audits Evergrande and Xu Jiayin assets

China 12/19/21, 04:13

The Chinese Communist Party (CCP) is auditing the assets of China Evergrande Group and Evergrande Chairman Xu Jiayin, according to Reuters. People familiar with the matter also said that Evergrande's liquidity is severely lacking. In addition, previous methods of restructuring state assets may not be suitable for Evergrande. Reuters reports that ...

Evergrande founder forced to sell $60 million in company shares

China 12/12/21, 02:46

Evergrande founder Xu Jiayin has been pressured to sell $60 million of his Evergrande shares as the Chinese Communist Party (CCP) stepped in to assist the real estate tyrant with its debt crisis. The Hong Kong Stock Exchange reported that $277.8 million Evergrande shares pledged by Evergrande Chairman Xu Jiayin and ...

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