On June 27th, the Judicial Hong Kong Website showed that a company located in Samos Island, Pacific, filed a winding-up petition to the Chinese Communist Party (CCP)’s Evergrande. The hearing is at 9:30 am on August 31, 2022.
A winding-up petition means that if the company has too much debt, its creditors or members of the company can submit a winding-up petition to the court, and the court will hold a hearing. If the petition is approved, the court may proceed with a compulsory liquidation, ordering the company to sell its assets to pay off its debts, distribute its remaining property, etc.
In addition to Evergrande, the CCP’s companies currently petitioned for liquidation are Fantasia and DaFa Properties. Real estate has always been a financial bomb for the CCP. Wang Qishan’s Northern International Trust Co., Ltd. is under judicial prosecution, and a large number of fake financial bills are waiting to explode. Evergrande is just a tip of the iceberg. Miles Guo revealed in 2017 that Communist China’s real estate will definitely collapse.