Evergrande's Shares Plummet as Winding-up Hearing is Adjourned
Shares of Chinese property company Evergrande hit an all-time low after a Hong Kong judge postponed a court hearing to address a winding-up petition. The hearing has been rescheduled for December 4, and Evergrande must present a revised restructuring proposal before that date to avoid being wound up. The company is facing multiple challenges, including the inability to issue new notes under its debt restructuring plan and an ongoing investigation into its subsidiary Hengda Real Estate.