Spice Up Your Life with Homemade Pumpkin Spice: No Bake Pie | SaltWire #shortsvideo #cookingshortsHONG KONG - China Evergrande Group's fate will be tested on Monday as Hong Kong's High Court hears a winding-up petition against the embattled property developer, nearly two years after it defaulted on its debts.
Evergrande had been working on an offshore debt restructuring proposal for more than a year-and-a-half, but its plans were thrown off course last month when billionaire founder Hui Ka Yan was confirmed to be under investigation for suspected criminal activities.
Evergrande revealed the investigation into its founder and one of its main subsidiaries last month, and it was barred by mainland regulators from issuing new dollar bonds, a crucial part of the restructuring plan. It also cancelled creditor votes originally scheduled for late last month. Top Shine, an investor in Evergrande unit Fangchebao, filed the winding-up petition in June 2022 because it said Evergrande had not honoured an agreement to repurchase shares the investor bought in the unit.