Evergrande Liquidators Plan First Creditor Payouts for 2027

Liquidators for China Evergrande Group plan to begin the first payouts to creditors in the first half of 2027. Despite these plans, Edward Middleton and Tiffany Wong of Alvarez & Marsal have recovered approximately HK$3.4 billion (US$433 million) as of September 30, representing less than 1% of the US$46 billion sought.

Recovery efforts have been hampered by fragmented documentation and limited access to Chinese information systems. The liquidators described the possibility of recovering assets from mainland China subsidiaries as "remote." Current funds were raised through the sale of assets including artwork and aircraft.

To increase the recovery pool, liquidators are pursuing several legal actions. They are attempting to claw back US$6.5 billion in dividends and remuneration from former executives, including founder Hui Ka Yan. Additionally, the liquidators filed a claim for 57 billion yuan (US$8.5 billion) against PricewaterhouseCoopers International Ltd. and its affiliates, while seeking to void a HK$1 billion compensation fund established by the firm's Hong Kong affiliate.