China Evergrande ordered to liquidate, owing US$300bil

HONG KONG: A Hong Kong court on Monday ordered the liquidation of property giant China Evergrande Group, a move likely to send ripples through China's crumbling financial markets as policymakers scramble to contain a deepening crisis.

The decision to liquidate the world's most indebted developer with more than $300 billion of total liabilities was made by Hong Kong Justice Linda Chan, who noted Evergrande had been unable to offer a concrete restructuring plan despite months of delays.