Hong Kong Behemoth in China Real Estate Readying for Bankruptcy – Is This the Beginning of a Massive China Real Estate Crash?

Hong Kong Behemoth in China Real Estate Readying for Bankruptcy – Is This the Beginning of a Massive China Real Estate Crash?


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.

EXCLUSIVE: The Beginning of China’s Economic Collapse? Largest Issuer of China’s Commercial Paper, Evergrande, Is Facing Bankruptcy, Entire World Economy Likely Impacted

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Zerohedge reported this morning:

It took Evergrande less than a day to go from denying “rumors” of bankruptcy (as per a statement posted on its website earlier today), to confirming that a bankruptcy is imminent.

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”,

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