▲ 296 ▼ What the collapse of a company owing $300 billion means for the world (www.businessinsider.com) submitted 2 years ago by Ninjazzon@infosec.pub to c/world@lemmy.world 79 comments fedilink hide all child comments A Hong Kong court ordered the liquidation of China Evergrande, the world's most indebted property developer. Evergrande has assets of about $245 billion, but owes about $300 billion. Its demise is a "controlled collapse," but still raises systemic risk and will hurt investors, says an analyst.
[–] piecat@lemmy.world 21 points 2 years ago* (last edited 2 years ago) Fiduciary responsibility. Shareholders/investors can, have, and will, sue. That's where the primary focus is supposed to lie. Legally anyway. If selling all the assets and firing all the people could increase the share price for a quarter, they'll do it. permalink fedilink source parent