China’s Evergrande, the World’s Most Indebted Corporation, Officially Goes Insolvent
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China’s Evergrande, the World’s Most Indebted Corporation, Officially Goes Insolvent Today
By Joe Hoft
Published November 10, 2021 at 6:04pm
181 Comments
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We’ve reported about the challenges that Evergrande is in while facing insolvency. Today the company officially went bankrupt.
In September we reported on Evergrande’s imminent collapse.
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Behemoth in China Real Estate Readying for Bankruptcy – Is This the Beginning of a Massive China Real Estate Crash?
Last week we reported on the massive real estate corporation based in Hong Kong with holdings throughout China, Evergrande. Now the firm is readying for bankruptcy. Here is our post last week. EXCLUSIVE: The Beginning of China’s Economic Collapse? Largest Issuer of China’s Commercial Paper, Evergrande, Is Facing Bankruptcy, Entire World Economy Likely Impacted Zerohedge … Continue readingBehemoth in China Real Estate Readying for Bankruptcy – Is This the Beginning of a Massive China Real Estate Crash?
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We’ve warned that this is an indicator of things to come in China.
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Author Joe Hoft lived in Hong Kong for the past decade and has intimate knowledge of China We’ve reported for years on the China economy and reasons to be concerned. Recently our concerns have arrived. In early 2020 we repeated our warnings on the state of China’s economy. The Genius of Trump: China Economy is … Continue readingBREAKING EXCLUSIVE: China’s Economic Crisis Has Arrived – This Will Impact the Entire World
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This morning it was reported out of Germany:
China Evergrande Group today again defaulted on interest payments to international investors. DMSA itself is invested in these bonds and has not received any interest payments until today’s end of the grace period. Now DMSA is preparing bankruptcy proceedings against Evergrande and calls on all bond investors to join it.
China Evergrande Group, the second largest real estate developer in China, defaulted on interest payments on two bonds back in September, with the 30-day grace period still ending in October. However, shortly before the end of the grace period, the public was misled by rumors about alleged interest payments. The international media also took the rumors for granted. Only the DMSA – Deutsche Marktscreening Agentur (German Market Screening Agency) already recognized the default at that time and proved in a study that the bankruptcy of Evergrande, the world’s most indebted corporation, could ultimately lead to a “Great Reset”, i.e. the final meltdown of the global financial system.
Is this the beginning of bigger troubles for China and the world financial community?
China's Evergrande, the World's Most Indebted Corporation, Officially Goes Insolvent Today (thegatewaypundit.com)
