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Letzte Aktualisierung: March 28, 2022

'Evergrande's creditors will lose money'

Elske Fehl-Weileder is an expert in Chinese bankruptcy law.
Despite abundant evidence of Evergrande's bankruptcy, a formal filing for bankruptcy remains nowhere in sight. A rescue plan is to be presented by mid-year. The creditors' bankruptcy petitions were apparently unsuccessful. Speaking with Christian Domke Seidel, lawyer Elske Fehl-Weileder explains the underlying reasons.
Share trading was suspended and the annual financial statement was postponed. At subsidiaries, fixed amounts worth billions disappear and assets are frozen. Time and again, the group misses interest and loan repayments. In Germany, the managers of the Evergrande Group would probably have long since been charged with bankruptcy fraud for such tactics. In China, however, things are different. Here, companies have plenty of options to delay the inevitable. In an interview with China.Table, Elske Fehl-Weileder provides insight into business law of the People's Republic. Fehl-Weileder works in the International Insolvency Administration at Schultze & Braun and is an expert on Chinese bankruptcy law. She explains why there has not yet been a successful bankruptcy petition filed by international creditors against the Evergrande Group.
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