Independent thinking for complex markets and current events
Evergrande is accused of committing fraud totaling $78 billion, which would make it the largest case of financial fraud in history, surpassing that of Enron, WorldCom, FTX, and even Madoff's $68 billion ponzi. pic.twitter.com/cpnvpJkWBb — Win Smart, CFA (@WinfieldSmart) May 14, 2024 Brace for seismic tremors in the financial world as Evergrande, the Chinese real …
The looming threat of Evergrande’s tumultuous collapse raises significant apprehension among global investors amid China’s economic challenges. In a bid to avert imminent liquidation, the world’s most indebted property developer, China Evergrande Group, is urgently presenting a last-minute debt restructuring proposal before a crucial Hong Kong court hearing on Monday. The defaulted company faces mounting …
Since October 8th, a bank run has erupted at the Bank of Cangzhou in Hebei Province. Numerous online videos show long lines of people waiting to withdraw money at various branches of the Bank of Cangzhou. Not only were the bank lobbies packed with people, but long queues also formed outside on the streets, with …
This is a new very bad development as until recently Evergrande was facing “just” a restructuring. Liquidation = death. Panic then possible as many others potentially in line for the same fate. Decision date is Monday 30 October, in 20 days. via YAHOO: (Bloomberg) — A group of offshore creditors of China Evergrande Group said …
After defaulting on its debt two years ago, Chinese real estate developer Evergrande was meant to be restructured and allowed to get back on its feet. But that plan now looks to be in peril, after police detained its chairman as well as staff at a financing subsidiary. Xu Jiayin, also known as Hui Ka …
On the evening of July 17th, 2023, Evergrande’s official website released 3 financial reports, including the 2021 financial report, the 2022 mid-year report, and the annual report. Everyone already knows that Evergrande is a mess, but no one expected it to be so bad: a net loss of US$120 billion in two years! Its liabilities …