Evergrande's Shares Plummet as Winding-up Hearing is Adjourned
TL;DR
Shares of Chinese property company Evergrande hit an all-time low after a Hong Kong judge postponed a court hearing to address a winding-up petition. The hearing has been rescheduled for December 4, and Evergrande must present a revised restructuring proposal before that date to avoid being wound up. The company is facing multiple challenges, including the inability to issue new notes under its debt restructuring plan and an ongoing investigation into its subsidiary Hengda Real Estate.
Topics:top-newsbusiness#business#chinese-property#court-hearing#evergrande#shares#winding-up-petition
- Evergrande shares fall 20% to all-time low as court adjourns winding-up hearing CNBC
- China Evergrande Winding-up Hearing Adjourned by Hong Kong Court Bloomberg Television
- Court gives Evergrande one last chance to agree debt deal BBC.com
- China Evergrande faces winding-up challenge in Hong Kong court Reuters
- Evergrande Liquidation Hearing Delayed in ‘The Last Adjournment’ Yahoo Finance
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