Key facts
- Liquidators aim to make a first interim dividend payment to creditors in the first half of 2027.
- Recovered funds include $435.9 million from asset sales and loan recoveries.
- 96 artworks were sold for $28.8 million at a loss.
The liquidators of China Evergrande Group have recovered $435.9 million from asset sales and loan recoveries, a fraction of the approximately $46 billion in claims against the developer. In their second progress report, liquidators Edward Middleton and Tiffany Wong of Alvarez & Marsal stated they aim to make a first interim dividend payment to creditors in the first half of 2027. The recovered funds came from selling assets including aircraft, artwork, and club memberships, as well as settling loan receivables. Ninety-six of 107 artworks found at the company's Hong Kong headquarters were sold for $28.8 million, representing a loss. A private jet is expected to sell for about $12 million, and liquidators are seeking a $2 million refund from a U.S. university related to a 2020 donation. Prospects for recovering assets from mainland Chinese subsidiaries are considered remote. Evergrande founder Hui Ka Yan was sentenced to life imprisonment in August.