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(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.
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.
Canadians’ personal debt rating hit a record low this quarter, dropping 12 points.
Two in five worried someone in their household could lose their job, an all-time high (41%, +9pts).
Despite interest rate cuts, half of Canadians remain concerned about their ability to repay debts (50%, +2pts), while two-thirds (65%, +2pts) say they urgently need rates to go down.
Half of Canadians are $200 or less away each month from not being able to pay their bills and debt payments (50%, +8pts).
CALGARY, Alberta, Jan. 13, 2025 (GLOBE NEWSWIRE) — Canadians are heading into the New Year feeling more pessimistic about their personal finances, despite declining interest rates. The latest MNP Consumer Debt Index, conducted quarterly by Ipsos, dropped a…
China Evergrande (3333) 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 US$300 billion (HK$2.34 trillion) 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 US$23 billion offshore debt.
(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.
SINGAPORE – A private-hire driver made off with the driving licences of two men, one of whom was his passenger, and tampered with the documents, replacing their particulars with his own.
After that, Pang Kim Swan used the forged licences to repeatedly enter the casinos at Resorts World Sentosa (RWS) and Marina Bay Sands (MBS).
The prosecution said that due to his gambling problem, Pang had earlier obtained a self-exclusion order, barring him from entering the country’s casinos.
He was arrested in December 2017 after a security officer caught him at MBS using one of the forged documents.
Instead of keeping himself out of trouble, he stole his father’s identity card in 2018 and used it to enter the RWS casino, where he was again caught…
A liquidation in the British Virgin Islands (BVI) can be either: (1) an insolvent liquidation and therefore governed by the Insolvency Act 2003 (as amended); or (2) a solvent liquidation and therefore governed by the BVI Business Companies Act (as amended) (Companies Act). The Companies Act was amended by the BVI Business Companies (Amendment) Act 2022 and BVI Business Companies (Amendment) Regulations 2022 (the Amendments).
This article sets out some of the key points in relation to voluntary liquidations in the BVI.
Purpose.A voluntary liquidation is commonly used where the company is no longer required by a business and is to be dissolved. This will enable the liquidator to deal…
The National Retail Federation reported that sales during the 2024 holiday season were expected to reach a new record.
COLUMBUS, Ohio — As Ohioans are beginning to receive their credit card bills for purchases made during the holiday season, the Ohio Department of Commerce is sharing tips to help relieve any financial headaches.
The National Retail Federation reported that sales during the 2024 holiday season were expected to reach a new record.
About 36% of American consumers were expected to incur holiday debt, according to a survey by the LendingTree. The average balance of holiday debt was projected at…
