Evergrande faces liquidation, bondholders warned

International bondholders in Evergrande have been warned by advisers that the Chinese developer faces a potential liquidation. The debt-laden developer’s restructuring plan was unexpectedly derailed last month, after Evergrande revealed in a Hong Kong stock exchange filing that it could not proceed, citing domestic regulators and an unspecified investigation into the company. The bondholder group, which is represented by investment bank Moelis and law firm Kirkland & Ellis, said: “This will likely lead to the uncontrolled collapse of the group.” The developer, which had more than $300bn in liabilities at the time of its default, in July disclosed losses of $81bn over 2021 and 2022. The FT (£)