Overview
- Hong Kong Exchanges and Clearing canceled the listing effective Aug. 25 after Evergrande failed to resume trading within the 18‑month suspension window and did not seek a review.
- Trading had been halted since Jan. 29, 2024, when a Hong Kong court ordered the developer wound up for failing to present a viable debt-repayment plan.
- Court-appointed liquidators report about $255 million in asset sales against roughly $45 billion in creditor claims and say they have taken control of more than 100 group companies.
- Recovery efforts include lawsuits against PwC related to past audits and actions to freeze former executives’ overseas assets to claw back about $6 billion in dividends and remuneration.
- Evergrande carried more than $300 billion in liabilities and its founder Hui Ka Yan was fined and banned from securities markets for life in March 2024, as the collapse continues to highlight China’s prolonged property downturn and limited offshore access to onshore assets.