Evergrande Delusions & Chitty Chetrit Bang Bang
This week, we dive into 2 operatic stories of ruin on different continents. We begin with the tale of Hui Ka Yan, a Chinese property tycoon who went from being a steelworker to one of the world’s richest men, before his firm Evergrande collapsed and sank the country’s real estate market with it. Hui has just been sentenced to life in prison. Then, we beam into a New York law firm boardroom, where one of CRE’s preeminent girthy lads, Meyer Chetrit, has given an extraordinary deposition as creditors pursue the Chetrit Group over hundreds of millions of dollars in personal guarantees. And…
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