Market Chatter: Liquidators Look to Sell China Evergrande's Founder's Private Jet

MT Newswires Live12-11

China Evergrande Group (HKG:3333) liquidators want to sell an Airbus private jet belonging to the founder of the company to salvage some returns for the overseas investors who bought billions of dollars in bonds, the Financial Times reported

Liquidators Alvarez & Marsal specialists Edward Middleton and Tiffany Wong have taken control of the offshore entity that bought Hui Ka Yan's jet and have put the jet up for sale, the publication said, citing three people with knowledge of the matter.

The business jet variant of the Airbus A319, which is currently in Guangzhou in southern China, has the size of a commercial passenger jet, according to flight records. The potential sale will provide relief as the company has an outstanding debt of over $300 billion.

Alvarez & Marsal declined to comment on the matter, the publication said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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