Hong Kong court orders liquidation of China's Evergrande

A Hong Kong court on Monday issued the liquidation of battered Chinese property giant Evergrande after lawyers failed to convince a judge it had a working restructuring plan.

Once China’s biggest developer, Evergrande has reported more than $300 billion in liabilities and its troubles have become a symbol of a years-long property crisis that has dealt a massive blow to the country’s economy.

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