Evergrande

The Chinese authorities are intensifying their scrutiny of PricewaterhouseCoopers LLP (PwC) in connection with the accounting practices of China Evergrande Group, which has been accused of a $78 billion fraud. What Happened: The Chinese securities regulator has accused Evergrande’s subsidiary...

China’s Evergrande Group (OTC:EGRNQ) has been accused of massive fraud, with its founder Hui Ka Yan at the center of the controversy. The company’s onshore unit, Hengda, is alleged to have inflated its revenue by $78 billion, leading up to its default in 2020. What Happened: The China...

China’s housing minister, Ni Hong, has made it clear that the country’s struggling real estate developers will not receive a significant bailout. The warning comes amid a backdrop of increasing defaults and a declining property market. What Happened: Ni, the Minister of Housing and...

A Hong Kong court handed down a liquidation order against China Evergrande Group on Monday, initiating the dissolution of what was once China’s biggest real estate developer. This move signals a critical turning point for the debt-laden giant, sparking spillover concerns across the financial...

The shares of China Evergrande (OTC:EGRNQ) were temporarily suspended after a Hong Kong court issued a liquidation order for the troubled real estate giant. What Happened: The shares of China Evergrande, a major property developer in the country and the world’s most indebted developer with...

In the latest turn of events, China Evergrande New Energy Vehicle Group Ltd, the electric vehicle (EV) unit of China Evergrande Group (OTC:EGRNF), experienced a significant 23% fall in share value on Monday following the arrest of its executive director. What Happened: Hong Kong-listed shares of...

Ratings agency Moody’s cut its outlook on China’s credit rating to negative on Tuesday, saying the country faces an economic slowdown as it continues to grapple with the fallout from the collapse in its property sector. Moody’s rating reflected growing signs that debt issuance...

Hong Kong-listed shares of the world’s most indebted property developer, China Evergrande Group (OTC:EGRNF), nosedived as much as 87% on Monday, resuming trade after a 17-month pause, CNBC reported. The beleaguered company's shares fell down to 22 Hong Kong cents, a stark contrast to its...

China’s real estate titan, Evergrande Property Services Group Ltd (OTC:EVGPF), has pivoted into a strategic offshore debt restructuring phase, leading with a Chapter 15 filing in the U.S. What Happened: The essence of Chapter 15 of the U.S. bankruptcy code is critical to understanding...

The sudden drop in Bitcoin’s (CRYPTO: BTC) value on Thursday, which led to an 8% decline within the last 24 hours, has sparked theories about the causes behind this unexpected market turmoil. Theory 1: Elon Musk’s aerospace company, SpaceX, has reportedly sold its Bitcoin holdings,...

China’s Most Indebted Property Developer, China Evergrande Group (OTC:EGRNF), has Filed For Chapter 15 Bankruptcy Protection In A U.S. Court. According to Reuters, the filing occurred on Thursday, August 17. The company, facing a severe debt crisis, sought protection under Chapter 15 of the U...

A Chinese billionaire, formerly one of the country's wealthiest businessmen and once the second-richest person in Asia, has seen his fortune drop by 93%. The chairman of real estate developer China's Evergrande Group, Hui Ka Yan, was worth $42 billion in 2017 and is now...

​China Evergrande, the second-largest real estate developer in China, has been narrowly dodging default for months. The Company has more than US $300 billion in debt that, as it warned the market back in September, it believed would be difficult for it to service. (As an aside, it is believed that...