Hong Kong Court Names Alvarez & Marsal as Evergrande Liquidator
- Hong Kong court gave Evergrande wind-up order on Monday
- Order sets stage for one of China’s biggest liquidation cases
Apartment buildings at China Evergrande Group's Life in Venice development in Qidong.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
A Hong Kong High Court judge has appointed Alvarez & Marsal as the liquidator for China Evergrande Group, after giving a wind-up order that sets the stage for one of China’s biggest liquidation cases.
Judge Linda Chan’s appointment of restructuring consulting firm Alvarez & Marsal, whose past cases include Lehman Brothers Holdings Inc., came at a so-called regulating order hearing on Monday afternoon. A regulating order gives the court regulatory power over the winding-up process, according to Hong Kong law.