Hong Kong: High Court orders liquidation of Chinese developer Evergrande. Group's action lost 20% this Monday morning on the HK stock exchange, which suspended operations on the stock.
Judge Linda Chan: "It is time for the court to say that enough is enough" The group had until January 29 to present its restructuring plan. The Shenzhen-headquartered company is listed on the Hong Kong Stock Exchange. Its founder, Hui Ka-yan, was once at the head of the second largest fortune in China.