Evergrande Liquidation to Leave Little for Creditors to Claim

China Evergrande Group creditors are set to recover just a fraction of the billions of dollars worth of the builder’s debt they hold, with most of its assets likely hard to access for liquidators.

Almost all of Evergrande’s assets are in mainland China, presenting legal hurdles for non-Chinese administrators. The key Hong Kong holdings add up to just $2.9 billion compared with $25.4 billion in offshore liabilities as of the end of June 2022, according to a court document and Bloomberg’s calculations.

Creditors had sought to stave off the liquidation order through more than two years of negotiations with ...