Last week we reported on the massive real estate corporation based in Hong Kong with holdings throughout China, Evergrande. Now the firm is readying for bankruptcy.
Here is our post last week.
Zerohedge reported this morning:
In a filing on the Hong Kong stock exchange on Tuesday, Evergrande which was busy trying to convince angry Chinese mobs that they will get their money and/or apartments and that it has no plans of default, the company all but conceded that a bankruptcy is imminent when it said it has hired notable bankruptcy advisors Houlihan Lokey and Admiralty Harbour Capital as joint FAs to “assess the firm’s capital structure”,