The Hong Kong High Court ordered the winding up of China Evergrande (HKG:3333) subsidiary Tianji Holding due to insolvency, the South China Morning Post reported Monday.
The subsidiary, also a guarantor of Evergrande, needed to be liquidated "as soon as possible" for the protection of creditors, the report said.
Creditors and contributories of another subsidiary, CEG Holdings, were scheduled to meet for the first time on Tuesday, the report said, citing the court's gazette.
A contributory is an entity legally obligated to contribute to the company's assets upon winding up, the SCMP said. CEG obtained a winding-up petition in 2024, the report said.
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