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What's Happening with the Evergrande Liquidation
- Animats 3y agoSaw that. Transcript here.[1] It seems that China doesn't have an organized system for big bankruptcies. The US has a setup so that one court has overall control, and some countries have cross-border bankruptcy treaties. China, though, does not. China is still developing a corporate bankruptcy law.[2] Large bankruptcies aren't really run by the courts; they're run by the financial side of the government, like bailout deals in the US. Compare the FTX bankruptcy, where all the subsidiaries were treated as a unit and one court in Delaware is unwinding the mess. [1] https://www.npr.org/transcripts/1197961810 https://www.npr.org/transcripts/1197961810 [2] https://www.iflr.com/article/2bz460ulz9pecsohuujgg/features/imminent-changes-insights-and-prospects-for-chinas-insolvency-restructuring-market https://www.iflr.com/article/2bz460ulz9pecsohuujgg/features/...
- deleted 3y ago[deleted]