Topics

Posted 9/29/2023, 4:22:39 AM

Evergrande Chairman Detained Amid Debt Woes and Lawsuits

China Evergrande's chairman Hui Ka Yan is under police control and suspected of "illegal crimes"
Evergrande shares remain suspended on Hong Kong exchange due to Hui's situation
Evergrande subsidiary Hengda faces nearly 1,950 lawsuits totaling $61.6B in claims
Hengda had 163 new enforcement cases in August totaling $1.3B
Evergrande delays debt restructuring meeting and plan, cites weaker than expected sales

cnbc.com

Relevant topic timeline:

8/28/2023

Evergrande shares plunge as much as 87% as trading resumes after 17 months

Shares of China Evergrande Group, the world's most indebted property developer, plunged 87% on its first day of trading since March 2022, as the company posted a loss of $5.38 billion for the first half of 2023 amidst its ongoing financial struggles.

8/31/2023

How Evergrande’s downfall signaled China’s property crisis

Borrowing to buy land and using unorthodox strategies to generate funds, China Evergrande Group and its founder, Hui Ka Yan, saw enormous success before facing a messy collapse under the weight of debt, revealing the inner workings of a Chinese property giant and the challenges facing the country's property market.

9/17/2023

Chinese Authorities Detain Evergrande Staff Amid Deepening Property Crisis

Chinese authorities have detained personnel from Evergrande's financial subsidiary as part of their involvement in the ongoing crisis, with the detained individuals being part of Evergrande Financial Wealth Management Co., triggering further financial chaos.

9/25/2023

Evergrande Shares Sink as Debt Restructuring Plan Stalls Due to Creditor Resistance and Regulatory Probe

China Evergrande Group's shares and those of its peers plunged after the troubled property developer faced difficulties in finalizing its debt restructuring plan, causing concerns to resurface about the crisis-hit Chinese property sector.

9/25/2023

Evergrande Restructuring Hits Major Snag as Probe into Main Unit Stalls Debt Swap

Evergrande, the embattled Chinese developer, is facing trouble with its debt restructuring plan due to a regulatory probe into its subsidiary, Hengda Real Estate Group, which could lead to liquidation if a new deal with creditors cannot be reached.

9/27/2023

Evergrande Chairman Under Police Surveillance Amid Debt Crisis

The chairman of China Evergrande Group, Hui Ka Yan, has been placed under police surveillance amid the company's worsening financial situation and regulatory investigation.

9/28/2023

Evergrande Shares Suspended as Chairman Reportedly Placed Under Surveillance Amid Ongoing Debt Crisis

Shares of China Evergrande Group were suspended on Thursday by Hong Kong's exchange, as the chairman of the embattled real estate developer is reportedly under surveillance.

10/1/2023

From Richest to Ruin: The Stunning Downfall of China's Evergrande Billionaire Hui Ka-yan

China Evergrande's founder and chairman, Hui Ka-yan, once the country's richest man, has seen his wealth decline as the company faces significant debt and potential criminal charges.

10/2/2023

Evergrande Chairman Under Investigation as Company Struggles with Debt Crisis

China Evergrande Group Chairman Hui Ka Yan is under investigation for alleged asset transfers abroad, as the indebted property developer struggles to complete its projects.

10/3/2023

Evergrande Shares Rebound Over 20% Despite Chairman Investigation and Broader Hong Kong Selloff

Chinese property firm Evergrande sees a jump in shares after trading resumes, despite facing scrutiny over suspected crimes.

Topics

Posted 9/29/2023, 4:22:39 AM

Evergrande Chairman Detained Amid Debt Woes and Lawsuits

China Evergrande's chairman Hui Ka Yan is under police control and suspected of "illegal crimes"
Evergrande shares remain suspended on Hong Kong exchange due to Hui's situation
Evergrande subsidiary Hengda faces nearly 1,950 lawsuits totaling $61.6B in claims
Hengda had 163 new enforcement cases in August totaling $1.3B
Evergrande delays debt restructuring meeting and plan, cites weaker than expected sales

cnbc.com

Relevant topic timeline:

8/28/2023

Evergrande shares plunge as much as 87% as trading resumes after 17 months

8/31/2023

How Evergrande’s downfall signaled China’s property crisis

9/17/2023

Chinese Authorities Detain Evergrande Staff Amid Deepening Property Crisis

9/25/2023

Evergrande Shares Sink as Debt Restructuring Plan Stalls Due to Creditor Resistance and Regulatory Probe

9/25/2023

Evergrande Restructuring Hits Major Snag as Probe into Main Unit Stalls Debt Swap

9/27/2023

Evergrande Chairman Under Police Surveillance Amid Debt Crisis

The chairman of China Evergrande Group, Hui Ka Yan, has been placed under police surveillance amid the company's worsening financial situation and regulatory investigation.

9/28/2023

Evergrande Shares Suspended as Chairman Reportedly Placed Under Surveillance Amid Ongoing Debt Crisis

Shares of China Evergrande Group were suspended on Thursday by Hong Kong's exchange, as the chairman of the embattled real estate developer is reportedly under surveillance.

10/1/2023

From Richest to Ruin: The Stunning Downfall of China's Evergrande Billionaire Hui Ka-yan

China Evergrande's founder and chairman, Hui Ka-yan, once the country's richest man, has seen his wealth decline as the company faces significant debt and potential criminal charges.

10/2/2023

Evergrande Chairman Under Investigation as Company Struggles with Debt Crisis

China Evergrande Group Chairman Hui Ka Yan is under investigation for alleged asset transfers abroad, as the indebted property developer struggles to complete its projects.

10/3/2023

Evergrande Shares Rebound Over 20% Despite Chairman Investigation and Broader Hong Kong Selloff

Chinese property firm Evergrande sees a jump in shares after trading resumes, despite facing scrutiny over suspected crimes.