China Evergrande reveals 1,931 lawsuits worth $60 billion, issues warning to investors

Sharing is Caring!

Embattled Chinese developer China Evergrande has warned investors to “exercise caution” as it revealed the true extent of the crisis facing one of its units.

Hengda Real Estate, a principal subsidiary of Evergrande, says it had a total of 1,931 pending litigation cases as of the end of July 2023.

See also  Attorney General Ken Paxton Releases Statement Following His Acquittal of Sham Impeachment – Issues Stern Warning to the Biden Regime

Those cases each involve more than US$4 million, with the total amount involved in excess of $60 billion.

“Holders of the company’s securities and potential investors of the company are advised to exercise caution when dealing in the securities of the company,” said China Evergrande Group Chairman Hui Ya Kan.

See also  Elon Musk Reveals "Extremely Powerful" ADL CEO Sought To Shake Him Down For Donations....ADL is now fundraising off this scandal

The company has also revealed that Hendga Real Estate’s unpaid debts total $38 billion and its overdue commercial bills total $28 billion.

Views: 55

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.