Insolvency

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...

The leading wealth management entity in China, Zhongzhi Enterprise Group, is on the brink of insolvency with liabilities nearing a staggering $64 billion. This recent development has sparked concerns over the impact of the country’s property debt crisis on the wider financial...

Billionaire Richard Branson‘s commercial space satellite venture Virgin Orbit Holdings Inc. (NASDAQ:VORB) is reportedly working with two restructuring firms on fallback plans for its insolvency days in the event that it cannot secure new funding. What Happened: Virgin Orbit, the sister...

As Greece continues to slip further into depression, complete with massive unemployment, a credit crunch, and loss of economic confidence, it seems as though the ECB has started to implement a backdoor bailout of the European nation. Greece has a $3.7 billion maturing bond on August 20, so if...