Crunch time for huge Chinese firm, but no 'Lehman moment'Evergrande's debt pile became a major issue last year when the government began unveiling a series of measures aimed at reining in borrowing. Talk of a "Lehman moment" has rung loud this week as worried investors try to ascertain whether the crisis could be a replay of the bankruptcy of Wall Street titan Lehman Brothers during the 2008 global financial crisis. However, most experts agree the state will not want to see Chinese homebuyers left out of pocket. Notably, the group has hired experts including Houlihan Lokey -- which advised on the restructuring of Lehman Brothers after its collapse in September 2008. However, drowning under huge losses linked to sub-prime mortgages, US authorities allowed the firm to go under.

Source: Bangkok Post September 21, 2021 05:26 UTC