Why China Property Giant Evergrande Faces Liquidation: QuickTake

Property giant China Evergrande Group is heading for liquidation after a Hong Kong court ordered it to be wound up. It’s the biggest casualty of a real estate crisis that continues to drag on the world’s second-biggest economy. Evergrande defaulted on its bonds in December 2021, triggering protracted negotiations with creditors to hammer out a restructuring plan. That process stalled in September when its founder was placed under police control on suspicion of committing crimes. Evergrande bondholders are now wondering how much of their money they’ll see after the dust settles.

1. How did Evergrande get into trouble?

Evergrande, started ...