(Reuters) – China Evergrande said on Monday that a court in Hong Kong had ordered one of its key offshore units to be wound up, the latest in a slew of legal victories for the embattled developer’s liquidators.
The liquidators had filed a winding-up petition against company subsidiary CEG Holdings BVI in September, in a bid to recover funds from the debt-laden property company that defaulted in 2021 and triggered China’s real estate market crisis.
Evergrande, the world’s most indebted property developer with more than $300 billion of liabilities, was ordered by the Hong Kong High Court in January 2024 to liquidate after it failed to offer a concrete restructuring plan for its $23 billion offshore debt.
The firm’s liquidators —…
