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Hui Ka Yan, the founder of China's Evergrande Group, has been sentenced to life in prison, marking a significant development in the country's property crisis. The company was also fined over $2 billion.
The founder of China's embattled Evergrande Group has pleaded guilty to fraud charges, marking a significant development in the company's legal troubles.
Liquidators for China Evergrande Group have filed a lawsuit in Hong Kong seeking $8.4 billion from accounting firm PwC. The claim accuses PwC of negligence in its audits of the embattled property developer.
Xu Jiayin, the billionaire founder of the embattled Chinese property giant Evergrande, has pleaded guilty to fraud charges. This development marks a significant turn for the company, which is the world's most indebted property developer.
The Hong Kong High Court is scheduled to hear the lawsuit filed by China Evergrande Group's liquidators against PricewaterhouseCoopers (PwC) International on Monday. The one-day hearing is listed on the judiciary's website.
The first-instance trial for Evergrande Group, Evergrande Real Estate, and founder Xu Jiayin has concluded, with Xu pleading guilty to charges.