Councils in China have seized control of Evergrande’s presales and set up custodian accounts, to ensure that the money is not diverted to creditors.
At least eight provinces, including Guangzhou, Zhuhai and Jiangsu, have set up the special accounts since August.
The property developer is reeling under $305bn of debt and last week failed to make an $84m interest payment.
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Including:
Knight Frank sees continued positive sentiment towards the sector
Retailer has vacated the store and moved to the Bullring
As his first solo venture launches, Schama wants to redefine hospitality advisory
Retention rate is significantly ahead of underwrite assumption
