Thunderstorm! Listed real estate companies are forced to liquidate!

On May 5, Jiayuan International Holdings Limited issued its latest announcement.

The announcement showed that the Hong Kong court issued a "liquidation order" to liquidate the company in order to repay the overdue debt of US $14.5 million (equivalent to about HK $113 million, about RMB 100 million). The cause

of Jiayuan International's liquidation was traced back to September last year, when six overseas bonds of Jiayuan International were not repaid, and dissatisfied creditors filed a liquidation petition directly with the court. After

entering the court procedure, Jiayuan International applied for several postponements of the liquidation petition, from March 1 to March 6 this year, and finally to May 2. When the time came, the court ruled directly on the liquidation.

According to the Hong Kong Official Receiver Ordinance, after the court issues a liquidation order, it will appoint a provisional liquidator, who will take over the company and dispose of its assets to repay its debts. When all the assets of the company have been realized and all the debts have been paid, the liquidator will submit a "certificate of release of the liquidator" and dissolve the company within two years from the date of submission.