Evergrande

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https://www.evergrande.com/ - China’s 2nd largest property developer Evergrande files for Chapter 15 bankruptcy! Evergrande has posted losses of $81 Billion over the last 2 years, with $340 Billion of debt at the end of 2022 (2% of China’s entire GDP). Evergrande has borrowed heavily and also defaulted on its debt in 2021.

Evergrande Will Be Dismantled, a ‘Big Bang’ End to Years of Stumbles

After multiple delays and even a few faint glimmers of hope, a Hong Kong court has sounded the death knell for what was once China’s biggest real estate firm - https://www.nytimes.com/2024/01/28/business/china-evergrande.html - Evergrande epitomized the rise of China’s property frenzy, building developments like Evergrande Mansions in Guangdong. Over borrowing led to its collapse.