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A liquidation order for China's most debt-laden developer begins a drawn-out process for creditors that is likely to lay bare the depths of China's real-estate downturn and leave builders locked out of global debt markets as investors shun exposure. A Hong Kong court appointed liquidators for China Evergrande on Monday, more than two years after its default brought a years-long property boom to a shuddering halt. It has assets of $240 billion and is the world's most indebted developer with nearly $300 billion in liabilities.

A liquidation order for China's Evergrande begins a drawn-out process for creditors that is likely to lay bare the depths of China's real-estate downturn.

NEW YORK/SINGAPORE : A liquidation order for China's most debt-laden developer begins a drawn-out process for creditors that is likely to lay bare the depths of China's real-estate downturn and leave builders locked out of global debt markets as investors shun exposure.A Hong Kong court appointed liquidat

A liquidation order for China's most debt-laden developer begins a drawn-out process for creditors that is likely to lay bare the depths of China's real-estate downturn and leave builders locked out...