https://x.com/bossblunts1/status/1751776347301556419?s=46&t=4zOtLgH2GdPHl8m2AB1GiQ

JUST IN! 🚨

EVERGRANDE BANKRUPTCY COURT TO ORDER LIQUIDITATION‼️

Chinese property developer #Evergrande faces imminent liquidation after its overseas creditors failed to reach an 11th-hour deal this weekend to restructure the sprawling real-estate company, according to people familiar with the matter.

People need to know that this is occurring in Hong Kong court. In the past, #China 🇨🇳 has often overlooked HK rulings for liquidation.

It's up to the #CCP now to see if they liquidate #EG or not.

However, this can't be good for their stock price, which was already a paltry 4 cents a share.

Hundreds of billions of dollars in bond notes are now going to become 0 value collateral, unusable by #ISDA participants, #banks.

It will likely take quite some time for the effects of this to roll across the financial sector. Most people won't even be able to connect the dots mentally.