Evergrande: Crisis-hit Chinese property giant ordered to liquidate - BBC News

The Hong Kong order may matter little in the mainland, where most of the property giant's assets are held.

33 minutes agoShareclose panelShare pageCopy linkAbout sharingImage source, Getty ImagesImage caption, China's property sector contributes roughly a quarter of the world's second biggest economyBy Mariko OiBusiness reporterA court in Hong Kong has ordered the liquidation of debt-laden Chinese property giant Evergrande.

Judge Linda Chan said "enough is enough", after the troubled developer repeatedly failed to come up with a plan to restructure its debts.

The firm has been the poster child of China's real estate crisis with more than $300bn (£236bn) of debt.

But it is unclear how far the Hong Kong ruling will hold sway in mainland China.

The property giant, which has been in hot water with its creditors for the last two years, filed a request for another three months' leeway at 4pm on Friday.

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