The Hong Kong High Court officially ruled that China Evergrande was liquidated. To put it in our mainland terms, Evergrande can enter bankruptcy liquidation. Why is Evergrande going bankrupt and liquidating? There is only one direct reason: creditors have no hope. When these dome

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The Hong Kong High Court officially ruled that China Evergrande was liquidated. To put it in our mainland terms, Evergrande can enter bankruptcy liquidation. Why is Evergrande going bankrupt and liquidating? There is only one direct reason: creditors have no hope. When these dome - Lujuba

The Hong Kong High Court officially ruled that China Evergrande was liquidated. If we use to put it in mainland China, Evergrande can enter bankruptcy liquidation. Why is Evergrande going bankrupt and liquidating? There is only one direct reason for

: creditors have no hope. When these domestic and overseas creditors took a look at Evergrande's account books, they found that what was left were basically junk assets, and there were not many valuable things left. If there is no liquidation, Evergrande's assets will only further depreciate, and no one will even want to recycle the waste. Evergrande wants to take the route of debt restructuring and come back from the dead, but there is no possibility.

The Hong Kong High Court officially ruled that China Evergrande was liquidated. To put it in our mainland terms, Evergrande can enter bankruptcy liquidation. Why is Evergrande going bankrupt and liquidating? There is only one direct reason: creditors have no hope. When these dome - Lujuba

Taking advantage of the fact that Evergrande still has some valuable things, the major creditors quickly divided it. Don’t expect to recover all the lost investments. Get back as much as you can. Evergrande has been dead for a long time, but today, the Hong Kong High Court announced its death. From now on, you can prepare a funeral for Evergrande.

But this funeral will not end in a short time, but a long process, because it involves the guaranteed delivery of the building. Before the task of "guaranteing the delivery of the building" is completed, Evergrande cannot seal the coffin and bury it in the ground. Evergrande will continue to exist for a long time in the future until all the Baojiao Buildings are delivered. Let’s review together how Evergrande got to where it is today step by step?

The fuse of Evergrande’s explosion originated from a special dividend. On July 15, 2021, despite huge losses, Evergrande announced a special dividend plan on July 27, 2021, intending to distribute a dividend of 10.1 billion to shareholders. As soon as the news came out, Guangfa Bank immediately took action and applied for pre-litigation property preservation. The court froze Evergrande's 132 million cash. From this, Evergrande kicked off the thunderous curtain.

The Hong Kong High Court officially ruled that China Evergrande was liquidated. To put it in our mainland terms, Evergrande can enter bankruptcy liquidation. Why is Evergrande going bankrupt and liquidating? There is only one direct reason: creditors have no hope. When these dome - Lujuba

Immediately afterwards, Evergrande's financial management exploded. Suppliers and builders sued one after another, freezing Evergrande's assets, and unfinished buildings also emerged. When we reached this point, the entire Evergrande mess slowly surfaced.

First, it owes suppliers more than 500 billion in commercial tickets.

Second, it owes nearly 2 trillion yuan in loans to major financial institutions.

Third, overseas debts have exploded, making it impossible to repay principal and interest.

Fourthly, Evergrande Property Group took away 13.4 billion yuan by illegally misappropriating the down payment for house purchases and the cash flow of subsidiaries.

On the fifth day, Evergrande Song and Dance Troupe was on the hot search list.

Sixth, Xu Jiayin’s wife Ding Yumei donated money and fled, and her eldest son was missing.

On the seventh day, Xu Jiayin and his youngest son Xu Tenghe were arrested.

The Hong Kong High Court officially ruled that China Evergrande was liquidated. To put it in our mainland terms, Evergrande can enter bankruptcy liquidation. Why is Evergrande going bankrupt and liquidating? There is only one direct reason: creditors have no hope. When these dome - Lujuba

During this period, Xu Jiayin also tried to save himself. On the one hand, sold luxury homes and villas and injected more than 7 billion into Evergrande from its own pocket. But in the face of a huge debt of 2 trillion, this money is just a drop in the bucket. On the other hand, Evergrande's high-quality assets were sold off, such as Evergrande Football Stadium, Hengteng Network's equity, and its office buildings, hotels, commercial buildings, etc., but it was already too late.

Especially Ding Yumei's escape would have been almost impossible without Xu Jiayin's planning and help. Before Ding Yumei fled, the two of them probably discussed it. Once this is gone, there will be no return. Xu Jiayin is ready to sacrifice himself. But what he didn't expect was that his youngest son Xu Tenghe would also join in.

From the moment Xu Jiayin was arrested, Evergrande's fate was basically doomed. Xu Jiayin chose a very dishonorable path, and after all, someone would help him face it. If Evergrande had not misappropriated 13.4 billion from Evergrande Property, Evergrande Property would definitely be a high-quality asset. At that time, Hopson Development had planned to acquire Evergrande Property at a bargain price of 20 billion yuan. But who would have thought that a company that specializes in collecting property fees and making sure profits would also be emptied by Xu Jiayin.

The Hong Kong High Court officially ruled that China Evergrande was liquidated. To put it in our mainland terms, Evergrande can enter bankruptcy liquidation. Why is Evergrande going bankrupt and liquidating? There is only one direct reason: creditors have no hope. When these dome - Lujuba

It is impossible to clean up all the mess left by Evergrande. Overseas debts have been abandoned. If Xu Jiayin can't repay it, no one will pay it for him. Domestic debt is also difficult to recover because most of the funds were used by Evergrande to purchase land and became part of the land finance. The land that has not yet started construction has been forcibly taken back by the government and cannot be mortgaged again.The real value is actually the Evergrande property, Evergrande nursing homes, Evergrande hotels and Evergrande office buildings. As for the unfinished buildings of Evergrande, they all have negative equity. In the end, they still rely on the government to "guarantee the delivery of the buildings".

The direct impact of Evergrande’s liquidation is that Evergrande Motors will most likely be doomed. CEO Liu Yongzhuo has been arrested. Evergrande Automobile's debt ratio is as high as 99%. It has no net assets to speak of and is an empty shell. No one can take over Evergrande Automobile. The hole is too big.

The Hong Kong High Court officially ruled that China Evergrande was liquidated. To put it in our mainland terms, Evergrande can enter bankruptcy liquidation. Why is Evergrande going bankrupt and liquidating? There is only one direct reason: creditors have no hope. When these dome - Lujuba

The judgment of the Hong Kong High Court is like a death notice, telling everyone: Evergrande is dead, and everyone knows it.

Guaranteed delivery is the last hope for all owners who bought unfinished buildings in Evergrande, and it is also the only cushion to lift the trauma of the times. Xu Jiayin wanted to be famous in history, but in the end he would be infamy for thousands of years.

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