If a liquidation order is issued, a provisional liquidator and then an official liquidator will be appointed to take control and prepare to sell the developer's assets to repay its debts. They would also investigate the company's affairs and could refer any suspected misconduct by directors to Hong Kong prosecutors. Evergrande could appeal a liquidation order, but the liquidation process would proceed pending appeal. It is unclear if Evergrande shares would be suspended from trading after a liquidation order. Most of Evergrande's assets have been sold or seized by creditors, leaving its two units listed in Hong Kong - Evergrande Property Services Group and Evergrande New Energy Vehicle Group.

Source: Mint January 26, 2024 17:48 UTC