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Hong Kong court orders property firm China Evergrande to liquidate after plan for $300B debt fails

  • A Hong Kong court has ordered the liquidation of China Evergrande, a real estate firm with over $300bn in debts, after it failed to provide a viable restructuring plan.
  • Chinese regulators believe the risks can be contained, as most of Evergrande's debt is owed to lenders in mainland China. Overseas creditors may need assistance from mainland courts to seize assets.
  • The liquidation order may have a significant impact on China's financial system, and there are uncertainties about how creditors can seize assets and the repayment of offshore bondholders.
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