It’s possible that such an event could have a big impact on crypto markets, too. This week, the Hong Kong Stock Exchange suspended Kaisa Group Holdings’ shares after the company missed a Tuesday deadline to pay off a $400 million debt.ĭue to these developments, many experts have predicted an economic downturn in 2022. Notably, Evergrande is not the only major Chinese real estate firm currently facing a crisis. The Shenzhen-based firm owes more than $300 billion to various parties, including investors, banks, and suppliers. Moreover, new worries have emerged about the potential spillover into China’s real estate sector and impact on the global economy. The aim is to create more transparency for consumers when selecting products, investments and services.The default has led to widespread speculation that Evergrande is now bankrupt, though the firm is yet to post any official declaration of insolvency. For them, important and decision-relevant information is bundled and presented as market screenings. The customers are the focus of DMSA's work.
The claim: to always look at companies and providers, products and services through the eyes of the customers. DMSA sees itself as an advocate for consumers, private customers and intelligent investors. We would be pleased if other investors were to join our action group."įor the DMSA expert, it is clear: "As soon as a court opens insolvency proceedings, Evergrande will also be officially bankrupt - and that is only a matter of days."Ībout DMSA Deutsche Markt Screening Agentur GmbH:ĭMSA Deutsche Markt Screening Agentur GmbH, is an independent data service that collects and evaluates market-relevant information on companies, products and services. We are already holding talks with other investors in this regard.
Metzler: "DMSA is preparing bankruptcy proceedings against Evergrande. And this is precisely what is now planned. This can be done either by the company itself or by one or more of the company's creditors. To determine bankruptcy, a insolvency petition must be filed with the court. However, this does not automatically result in a bankruptcy for Evergrande Group. "This means that if a single one of these bonds defaults, all 23 outstanding bonds automatically have 'default' status" DMSA senior analyst Metzler knows. Particularly problematic for Evergrande: all 23 outstanding bonds have a cross-default clause. (Note to editors: Exact details of the bonds that have defaulted so far can be found in the appendix to this press release.) "In its latest stability report, it explicitly pointed out the dangers that a collapse of Evergrande could have for the global financial system." central bank Fed confirmed our view yesterday," says DMSA senior analyst Dr. 29, 2021, and the DMSA study "The Great Reset - Evergrande and the Final Meltdown of the Global Financial System" all available via the DMSA homepage "But while the international financial market has so far met the financial turmoil surrounding the teetering giant Evergrande with a remarkable basic confidence - one can also say: with remarkable naivety - the U.S. (Note to journalists: See DMSA press releases dated Oct. the final meltdown of the global financial system. Only the DMSA - Deutsche Marktscreening Agentur (German Market Screening Agency) already recognized the default at that time and proved in a study that the bankruptcy of Evergrande, the world's most indebted corporation, could ultimately lead to a "Great Reset", i.e. The international media also took the rumors for granted. However, shortly before the end of the grace period, the public was misled by rumors about alleged interest payments. Now DMSA is preparing bankruptcy proceedings against Evergrande and calls on all bond investors to join it.Ĭhina Evergrande Group, the second largest real estate developer in China, defaulted on interest payments on two bonds back in September, with the 30-day grace period still ending in October. DMSA itself is invested in these bonds and has not received any interest payments until today's end of the grace period.
10, 2021 /CNW/ - China Evergrande Group today again defaulted on interest payments to international investors.
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