China Evergrande Group was ordered to be liquidated by a Hong Kong court, a stunning legal coda for the world’s most-indebted property developer. A wind-up could end up in management being replaced and addressing some issues, Judge Linda Chan said in the city’s High Court on Monday morning. The ruling on Monday cements the homebuilder, carrying 2.39 trillion yuan ($333 billion) of liabilities, as the most prominent symbol so far of China’s real estate crisis, which has crimped economic growth and hurt consumer confidence. The order is also likely to send ripples through China’s financial system at a time when policymakers are trying to stem a stock market rout. [time-brightcove
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