Evergrande liquidators aim to start creditor payouts in early 2027 after recovering under 1% of claims

Nearly three years after Evergrande entered winding-up, its court-appointed liquidators have recovered under 1% of the $46 billion creditors claim and intend to start the first tranche of payouts in early 2027. Alvarez & Marsal partners Edward Middleton and Tiffany Wong said the liquidators have raised roughly HK$3.4 billion to date, detailing recoveries from assets ranging from an Airbus A319 jet to Picasso and Monet paintings sold at a loss.

Selling many assets remains difficult; the Guangzhou-based jet has been grounded since 2023, and a buyer for a later-failed deal is expected to bring about US$12 million. Exclusive negotiations are under way to sell a majority stake in Evergrande’s property-management arm, with Asian private-equity firm PAG as the leading bidder after a state-owned suitor withdrew. The liquidators have also launched lawsuits to claw back US$6.5 billion from former executives, including founder Hui Ka Yan, and are pursuing a claim of 57 billion yuan against PricewaterhouseCoopers International Ltd and its affiliates, alongside a court action against Hong Kong’s regulator over a HK$1 billion settlement.