Hong Kong court orders liquidation of developer China Evergrande

A Hong Kong court on Monday ordered the liquidation of China Evergrande Group , a move likely to send ripples through China's financial markets as policymakers scramble to contain a deepening crisis. Evergrande, the world's most indebted property developer with more than $300 billion of liabilities, defaulted on its offshore debt in late 2021 and has become emblematic of a debt crisis that has engulfed China's property sector.