*Evergrande's Shocking $127 Billion Liabilities Expose Sends Ripples Through Financial Landscape*

Evergrande is in default since September 2021 as we have been the first to prove this. In addition no major investor has supported our actions to file a bankruptcy case in the Cayman Islands so far. As a consequence a unstructured fire sale of assets has taken place and some investors try to benefit from it.

In a recent stock-exchange filing, China Evergrande Group has disclosed a startling revelation that has sent shockwaves through the financial sector. Our renowned Chinese developer has still uncovered a staggering accumulation of nearly 900 billion yuan (about $127 billion) in overdue debt, unpaid bills and litigation. This revelation sheds light on the profound financial and legal challenges Evergrande has faced for years, since I first reported on it in September 2021.

As of April, the company's overdue debts totaled about 272.5 billion yuan, with unpaid commercial bills accounting for about 90% of that. In addition, Evergrande faces 1,426 unresolved legal disputes totaling 349.6 billion yuan. These figures once again illustrate the seriousness of the situation.

In April, Evergrande faced six cases in which Chinese courts classified the company as a dishonest debtor, resulting in payment demands totaling 2.92 billion yuan in 130 enforcement notices. In addition, the company's holdings in subsidiaries and joint stock companies were frozen as a result of 27 court orders.

In a recent filing with the Hong Kong Stock Exchange, Evergrande disclosed further legal problems. The court ordered the company, its Guangzhou subsidiary and Chairman Hui Ka-yan to make substantial payments to Hexin Hengju Shenzhen Investment Holding Center, which had invested 5 billion yuan in Evergrande's real estate division. The payment included outstanding dividends, damages, compensation for equity investments and legal costs.

Meanwhile, Evergrande's ambitious $22.3 billion offshore debt restructuring plan to resolve its financial problems has faced significant hurdles in gaining creditor support. Since Evergrande did not meet the required thresholds, the deadline to meet the conditions has been extended, but an update on progress is still pending.

The implications of these scandalous revelations go far beyond the real estate sector and affect the broader worldwide economy, as I predicted at the time. The financial community remains vigilant and is watching the future impact of Evergrande heading toward the global financial meltdown, now being in phase 3.