Posted on 09/14/2021 4:52:27 PM PDT by millenial4freedom
Chinese billionaire Hui Ka Yan is probably edging towards a restructuring of Evergrande’s whopping $302 billion in total liabilities, as the property developer makes little progress in averting a mounting debt crisis that has led to protests outside its headquarters.
Evergrande has hired two advisors—Houlihan Lokey and Admiralty Harbour Capital–to assess its capital structure and evaluate the company’s overall liquidity, the Hong Kong-listed firm said in a stock exchange filing today.
Zhou Chuanyi, a credit analyst at Singapore-based Lucror Analytics, said such action usually heralds a debt restructuring down the road, and investors are now closely monitoring its interest payments and looking for clues as to whether the process will begin soon.
(Excerpt) Read more at forbes.com ...
Let the company die and just help the common folks who were swindled of their savings, Bernard Madoff style.
It will be restructured.
Just like the U.S. did with GM, and Chrysler.
To Big to fail. The bright spot is that they won’t have to renegotiate a UAW contract.
So. They have that going for them.
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