Thousands of homebuyers who have paid deposits for homes in China could find their nest eggs at risk after liquidation order
As China’s most embattled – and indebted – property developer is ordered to liquidate, the effects that Evergrande’s collapse will have on investors, debt holders and the hundreds of thousands of homebuyers who have paid deposits for homes remains uncertain.
Evergrande, the Chinese property developer, was worth just $275m on Monday, down 99% from its peak in 2017. It owes more than $300bn to various creditors, according to its most recent financial report.
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