A court in Guangdong, China, has accepted a liquidation petition against China Evergrande Group's main onshore unit, Hengda Real Estate. This decision follows the founder's life sentence for financial charges, marking a final step in the downfall of the once-largest property developer in China. The court cited the company's inability to pay debts and insufficient assets as reasons for the liquidation. AI
RANK_REASON Significant regulatory action against a major company following legal proceedings. [lever_c_demoted from significant: ic=1 ai=0.0]
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