China moves to wrap up saga of troubled property giant Evergrande after founder gets life sentence

Once deemed “too big to fail,” Evergrande became the world’s most indebted developer. It's taking years to wind up those debts.

Chinese authorities have moved to finish cleaning up the mess left by the collapse of the Evergrande real estate empire as a court in southern China's Guangzhou accepted a bankruptcy liquidation case against its key mainland property development company

Chinese authorities have moved to finish cleaning up the mess left by the collapse of the Evergrande real estate empire as a court in southern China's Guangzhou accepted a bankruptcy liquidation case against its key mainland property development company

A court in southern China’s Guangdong province formally accepted a bankruptcy liquidation petition against China Evergrande Group’s main onshore unit, closing the final chapter in the unravelling of what was once the country’s largest property developer. The Guangzhou Intermediate People’s Court said on Friday that Gua

Chinese court in Guangzhou accepts bankruptcy case of Evergrande unit  Reuters

Founder and company found guilty earlier this year on series of charges

Hui Ka Yan was jailed for 'multiple crimes' after pleading guilty to eight charges including misuse of funds, fraud and bribery.

The founder of Evergrande, the property giant at the centre of China's housing market slump, has been sentenced to life in prison and had all of his personal property confiscated.

Hui was fined 47 million yuan ($6.5 million) in 2024 and banned from China's securities markets for life by the China Securities Regulatory Commission over inflating company financial results, among other issues.

The Chinese tycoon pleaded guilty in April to eight charges, including misuse of funds, fundraising fraud, illegally taking public deposits, illegally extending loans, fraudulently issuing securities and bribery.

The founder of China Evergrande Group, the world's most-indebted property developer, was sentenced to life in prison by a Chinese court on Thursday, five years after the firm's collapse shook the nation's economy and financial markets.

Chinese property developer Hui Ka Yan, founder of the Evergrande real estate group, has been sentenced to life in prison and the companies were fined a total of more than US$2 billion, a court in the southern city of Shenzhen said Thursday.

Chinese property developer Hui Ka Yan, founder of the Evergrande real estate group, has been sentenced to life in prison and the companies fined a total of US$2.3 billion, a court in the southern city of Shenzhen said Thursday.

Chinese court sentences founder of troubled property developer Evergrande to life in prison  AP News

An aerial view shows the 39 buildings developed by China Evergrande Group in Danzhou, Hainan province, China, Jan 6, 2022. (File photo: REUTERS/Aly Song) 20 Aug 2026 03:47PM BEIJING: For property giant Evergrande, the face of China's real estate woes, an excruciating saga that has dragged on for years culminated on Thu

Chinese property developer Hui Ka Yan has been sentenced to life in prison. The decision marks a milestone in Evergrande's saga after it collapsed with more than $300 billion in liabilities.

Hui Ka Yan’s punishment caps the downfall of a property empire whose collapse set off a prolonged crisis in the Chinese economy.

Evergrande chair Hui Ka Yan jailed following developer’s default almost five years ago

Hui's sentencing marks a key moment in the fallout from Evergrande's collapse, which shook China's property sector.

Founder Hui Ka Yan faced eight charges including misuse of funds, fundraising fraud and illegally taking public deposits.