Chinese developer Evergrande is facing an existential crisis as a winding up petition is brought to a Hong Kong court.
Offshore investor Top Shine Global has launched the petition, two years after the developer first defaulted on its $300bn debt.
The lawsuit, which has been repeatedly delayed since it was first brought in mid-2022, is in relation to a $110m claim in relation to stakes Top Shine bought in the Evergrande unit Fangchebao, its online real estate and automobile marketplace platform.
