Evergrande’s Debt Hits $45 Billion With Restructuring Ruled Out

China Evergrande Group’s debt load is far bigger than earlier estimated, amounting to HK$350 billion ($45 billion) as any “holistic” restructuring of the Chinese real estate firm is deemed out of reach, according to the developer’s court-appointed liquidators.

The company is facing 187 debt claims, with the total amount far exceeding the $27.5 billion of liabilities disclosed in its financial statement in December 2022, the liquidators said in a “progress report” issued on Tuesday. The new figure isn’t to be taken as final since additional claims could emerge and all are subject to formal review.