A Hong Kong High Court judge has given crisis-hit Chinese property giant Evergrande one last chance to come up with a new deal over its huge debts or face liquidation.
A winding-up hearing, initially scheduled for Monday, was adjourned to 4 December.
Justice Linda Chan said it would be the last hearing before a decision is made.
Justice Linda Chan said it would be the last hearing before a decision is made.
It defaulted on its debts two years ago and has been working on a new repayment plan ever since.
Justice Chan said Evergrande had to come up with a “concrete” proposal otherwise it was likely the company would be wound up. A liquidator would still be able negotiate with creditors, she added.
Evergrande did not immediately respond to a BBC request for comment.
The case was originally brought by Top Shine Global, an investor in Evergrande unit Fangchebao, in June 2022.
It said Evergrande had not honoured an agreement to buy back shares the investor had bought in the business.
A Hong Kong High Court judge has given crisis-hit Chinese property giant Evergrande one last chance to come up with a new deal over its huge debts or face liquidation.
Justice Linda Chan said it would be the last hearing before a decision is made.
A winding-up hearing, initially scheduled for Monday, was adjourned to 4 December.
It defaulted on its debts two years ago and has been working on a new repayment plan ever since.
Justice Linda Chan said it would be the last hearing before a decision is made.
Justice Linda Chan said it would be the last hearing before a decision is made.
It defaulted on its debts two years ago and has been working on a new repayment plan ever since.
Justice Chan said Evergrande had to come up with a “concrete” proposal otherwise it was likely the company would be wound up. A liquidator would still be able negotiate with creditors, she added.
Evergrande did not immediately respond to a BBC request for comment.
The case was originally brought by Top Shine Global, an investor in Evergrande unit Fangchebao, in June 2022.
It said Evergrande had not honoured an agreement to buy back shares the investor had bought in the business.
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