According the the GMBH News Release dated today (10/29/21)…’For the second time in a week, China Evergrande Group has apparently technically defaulted on interest payments to international investors.’… and in the opening paragraph goes on to say…’Should the Evergrande insolvency not only drag down China's real estate sector, but the entire economy of the country, we will see even bankruptcies of major international banks - such as HSBC, fears DMSA senior analyst Dr. Marco Metzler.’……’ But there has been no official confirmation of any payment of that interest by the close of business at Hong Kong banks’…continued Metzler. Besides Encouraging Angels, the only other known doubts that concur with Metzler appear in a recent report in the Financial Times Metzler says in the press release. In that document, Dr. Metzler goes on to state that no one replied to their inquiries as to an actual confirmation of the payments to creditors by Evergrande.
"Thus, the bankruptcy has apparently already technically occurred," analyzes Metzler.
Evergrande tried to raise capital through the sale of assets. The environment for asset sales is abysmal. The company tried to sell some of its assets to Hopson Development Holdings which fell through. According to reports, the deal would have been worth 20.04 billion Hong Kong dollars ($2.58 billion), according to filings.