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January 29, 2024
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BBC HomepageSkip to contentAccessibility HelpYour accountLiveNotificationsHomeNewsSportWeatheriPlayerSoundsBitesizeMore menuMore menuSearch BBCHomeNewsSportWeatheriPlayerSoundsBitesizeCBBCCBeebiesFoodClose menuBBC NewsMenuHomeIsrael-Gaza warCost of LivingWar in UkraineClimateUKWorldBusinessPoliticsCultureMoreTechScienceHealthFamily & EducationIn PicturesNewsbeatBBC VerifyDisabilityWorldAfricaAsiaAustraliaEuropeLatin AmericaMiddle EastUS & CanadaLos Alerces: Wildfire rages through national park in ArgentinaPublished23 minutes agoShareclose panelShare pageCopy linkAbout sharingImage source, ReutersImage caption, Tourists were still enjoying Futalaufquen Lake even though smoke could be seen rising from the nearby forestBy Vanessa BuschschlüterBBC NewsMore than a hundred firefighters are battling to control a forest fire in Chubut province, in southern Argentina.The blaze broke out on Thursday at Los Alerces national park, a Unesco World Heritage site in northern Patagonia, which is home to huge alerce trees.Chubut Governor Ignacio Torres blamed arsonists for the fire, which has burned more than 1,000 hectares. He said that limited visibility caused by the smoke was hindering the work of aerial firefighters.The fire spread as the region was experiencing an unusual heatwave which saw temperatures rise to 40C (104F) in the port city of San Antonio Oeste.Mario Cárdenas, the fire chief at Los Alerces, said the flames had spread from the park into the neighbouring areas.He said the fire continued to be “out of control” but that additional firefighters were expected to join the existing team. Los Alerces national park is home to the trees of the same name which are among the longest-living in the world and can grow to a height of 45m (150ft) or more. Image source, Getty ImagesImage caption, An alerce nicknamed “grandfather” is thought to be the oldest tree in the park, with an estimated age of 2,600 yearsThe park covers an area of almost 260,000 hectares and is considered key for the protection of the Patagonian Forest.Park Director Danilo Hernández Otaño said the blaze had started at two separate but nearby locations.Mr Hernández also said that it had been “clearly intentionally” laid and had not been an accident.”Those responsible for starting the fire will have to answer to the courts,” Chubut Governor Ignacio Torres said. Related TopicsArgentinaWildfiresMore on this storyGreece makes 79 arson arrests over wildfiresPublished25 August 2023Famous banyan tree and centuries-old church hit by Hawaii firesPublished10 August 2023Top StoriesLive. Iran denies involvement in drone strike that killed three US troopsKate leaves hospital after abdominal surgeryPublished12 minutes agoDisposable vapes to be banned over fears for children’s healthPublished24 minutes agoFeaturesTrain strikes: All you need to knowElection poll tracker: How do the parties compare?Key UN Gaza aid agency runs into diplomatic storm’We drove home with empty baby seat’ – NHS trust accused of avoidable infant deaths When will the Bank start to cut interest rates?Death of US troops ratchets up pressure on BidenBBC confronts man who abused boy in secretive Christian church’It’s a dream come true to work with Zayn Malik’The bus route that costs £124 per passengerElsewhere on the BBC’One of the best-known artefacts from ancient Egypt’Discover the woman who inspired the Bust of NefertitiAttributionSoundsThe sound effect that became the ultimate movie in-jokeIt’s used in everything from Toy Story to Reservoir Dogs, but what is the Wilhelm Scream?AttributioniPlayerWhat holds us back from exercising as we age?James Gallagher explores the mental and physical barriers that may stop usAttributionSoundsThe surprising health benefits of doing the plankMichael Mosley explores whether it outshines crunches or sit-ups…AttributionSoundsMost Read1Kate leaves hospital after abdominal surgery2Body of baby girl found in pub toilet3Fridge-carrying marathon runner stopped by police4The bus route that costs £124 per passenger5Woman dies after being struck by bus in London6Japan Moon lander wakes up and resumes mission7Train strikes: All you need to know about services8Man paralysed in cold water swim freak accident9Disposable vapes to be banned for child health10Nottingham stab victim’s parents call for inquiry

[ad_1] An official said arson was to blame for the blaze at the park which is a Unesco World Heritage site.

BBC HomepageSkip to contentAccessibility HelpYour accountLiveNotificationsHomeNewsSportWeatheriPlayerSoundsBitesizeMore menuMore menuSearch BBCHomeNewsSportWeatheriPlayerSoundsBitesizeCBBCCBeebiesFoodClose menuBBC NewsMenuHomeIsrael-Gaza warCost of LivingWar in UkraineClimateUKWorldBusinessPoliticsCultureMoreTechScienceHealthFamily & EducationIn PicturesNewsbeatBBC VerifyDisabilityAsiaChinaIndiaJapan: Moon lander Slim comes back to life and resumes missionPublished11 minutes agoShareclose panelShare pageCopy linkAbout sharingImage source, JaxaImage caption, Artwork: Jaxa has become the fifth national space agency to land on the MoonBy Kelly NgBBC NewsJapan’s Moon lander has resumed operations after being shut for a week due to a power supply issue.The Japan Aerospace Exploration Agency said it re-established contact with the lander Sunday night, indicating that the glitch had been fixed.Its solar cells are working again after a shift in lighting conditions allowed it to catch sunlight, the agency said.It could not generate power when it landed on 20 January as the solar cells pointed away from the sun.With the Smart Lander for Investigating Moon (Slim) spacecraft, Japan became only the fifth country to achieve a soft touchdown on the moon after the US, the former Soviet Union, China and India.The last of the Moon menThe race to unravel the mysteries of Moon’s south poleHow important are India’s Moon mission findings?The spacecraft ran on battery power for several hours before authorities decided to turn it off to allow for a possible recovery of electricity when the angle of sunlight changed.In a post on X, formerly Twitter, Jaxa shared a photograph taken by Slim of a nearby rock that it said resembled a toy poodle.The lander will analyse the composition of rocks in its search for clues about the origin of the moon, Jaxa said.Slim landed at the edge of an equatorial crater known as Shioli, within 55 m (180 ft) of its target in a crater. Jaxa described it as an “unprecedented pinpoint landing”.The landing technology could allow future exploration of hilly moon poles seen as a potential sources of fuel, water and oxygen, the agency said.The Slim mission came after several earlier attempts by Japan failed, including one by the start-up iSpace, which saw its lunar lander crash when its onboard computer became confused about its altitude above the Moon.Jaxa could not immediately say until when Slim will operate on the moon. It has previously said the lander was not designed to survive a lunar night. A lunar night, which is when the surface of the moon is not exposed to the sun, lasts about 14 days.Statistically, it has proven very hard to land on the Moon. Only about half of all attempts have succeeded.Prior to Japan, India was the most recent nation to join the elite club of countries that have achieved this. Its Chandrayaan-3’s rover touched down near the lunar south pole in August 2023 – an area on the Moon’s surface that no-one had reached before.Earlier this month, a US spacecraft launched by a private operator ended its lunar mission in flames over the Pacific. In August last year, Russia’s first lunar spacecraft in decades crashed into the Moon after spinning out of control.Related TopicsAsiaJapanExploration of the MoonSpaceThe MoonMore on this storyJapan hopes sunlight can save stricken Moon landerPublished6 days agoThe last of the Moon menPublished10 JanuaryThe year India reached the Moon – and aimed for the SunPublished28 December 2023Top StoriesThree US troops killed in Middle East drone attackPublished1 hour agoDisposable vapes to be banned over fears for children’s healthPublished7 hours agoDeath in the Channel – what led a 14-year-old to make fatal journeyPublished3 days agoFeatures’It’s a dream come true to work with Zayn Malik’The bus route that costs £124 per passengerDeath of US troops ratchets up pressure on BidenWhen will the Bank start to cut interest rates?The Papers: ‘Iran war’ fears and ‘two more teens killed’ BBC confronts man who abused boy in secretive Christian churchKey UN Gaza aid agency runs into diplomatic stormCould the UK’s ‘pre-war generation’ become a citizen army?What is Ofsted and how do inspections work?Elsewhere on the BBC’One of the best-known artefacts from ancient Egypt’Discover the woman who inspired the Bust of NefertitiAttributionSoundsShe’s not swiping for soulmates…Preview the brand new supernatural drama coming to iPlayer on January 31stAttributioniPlayerOne of the world’s toughest ice races…Leffert Oldenkamp recounts the gruelling Elfstedentocht of 1963AttributionSoundsThe surprising health benefits of doing the plankMichael Mosley explores whether it outshines crunches or sit-ups…AttributionSoundsMost Read1Crisis-hit China Evergrande ordered to liquidate2Disposable vapes to be banned for child health3Footballer Kyle Walker: I’m sorry for my actions4Boys, 15 and 16, killed in stabbing attack named5Three US troops killed in Middle East drone attack6’Iran war’ fears and ‘two more teens killed’7Japan Moon lander wakes up and resumes mission8Young drivers risk fraud to save on insurance cost9The bus route that costs £124 per passenger10Labour MP suspended over Gaza genocide remarks

[ad_1] The lander has begun sending photos, including that of a nearby rock shaped like a “toy poodle”.

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January 29, 2024
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BBC HomepageSkip to contentAccessibility HelpYour accountLiveNotificationsHomeNewsSportWeatheriPlayerSoundsBitesizeMore menuMore menuSearch BBCHomeNewsSportWeatheriPlayerSoundsBitesizeCBBCCBeebiesFoodClose menuBBC NewsMenuHomeIsrael-Gaza warCost of LivingWar in UkraineClimateUKWorldBusinessPoliticsCultureMoreTechScienceHealthFamily & EducationIn PicturesNewsbeatBBC VerifyDisabilityAsiaChinaIndiaHaji Malang: The Sufi shrine caught up in a religious row in MumbaiPublished6 hours agoShareclose panelShare pageCopy linkAbout sharingImage caption, The Haji Malang dargah is said to be more than 700 years oldA Sufi shrine frequented by Indians of all faiths made headlines recently after a top political leader said that he wanted to “liberate” it for just Hindus. The BBC’s Cherylann Mollan visited to understand what the controversy was about.The ascent is no easy feat, with some 1,500 rock-cut steps separating the devout from their destination: a Sufi saint’s tomb that has become a seat of faith, legend and disputed history.The Haji Malang dargah (shrine), sitting on a hill on the outskirts of Mumbai in the western state of Maharashtra, is said to house the tomb of an Arab missionary who came to India more than 700 years ago. Like many other Sufi shrines across India, the dargah is seen as a symbol of assimilation and tolerance, despite being at the centre of a religious dispute.When I visited, both Hindus and Muslims were offering flowers and a chadar – a piece of cloth offered as a symbol of respect in Sufi traditions – at the saint’s tomb. The belief is that any wish asked for with a “pure heart” will be granted. The shrine’s managing board mirrors this sense of respectful co-existence – while two of its trustees are Muslims, its hereditary custodians are from a Hindu Brahmin family.Image caption, People of all faiths visit the shrineBut earlier this month, Maharashtra Chief Minister Eknath Shinde stirred controversy by reviving a decades-old claim at a political rally. He asserted that the structure, traditionally considered a dargah, was a temple belonging to Hindus, and declared his commitment to “liberating” it.Mr Shinde did not respond to the BBC’s request for comment.His claim comes at a time when some prominent mosques and Muslim-made monuments in India are mired in disputes over claims that they were constructed by demolishing Hindu temples centuries ago.In the 1980s, Mr Shinde’s political mentor, Anand Dighe, spearheaded a campaign to “reclaim” the Haji Malang dargah for Hindus. In 1996, he reportedly led 20,000 workers from the Shiv Sena party inside the dargah to perform a pooja (a Hindu act of worship). Since then, Hindu hardliners, who refer to the structure as Malanggad, have continued the practice of performing pooja at the shrine on full Moon days, occasionally leading to clashes with Muslim devotees and locals.Image caption, There are also several temples on the hill – like this one just next to the dargahBut political observers say that Mr Shinde’s stance may have less to do with faith and more to do with optics. Dighe’s campaign had bumped up his appeal among Hindu voters in Maharashtra state.”Mr Shinde is now trying to position himself as the ‘Hindu saviour’ of Maharashtra,” says Prashant Dixit, a former journalist. Separate from the national election, Maharashtra – India’s wealthiest state – will vote for the state assembly later this year. Securing support from the Hindu majority is crucial for Mr Shinde, given the state’s distinctive political landscape, says Mr Dixit.Elections in Maharashtra are usually a four-way contest between the nativist, Hindu nationalist Shiv Sena and Bharatiya Janata Party (BJP) and the centrist Nationalist Congress Party (NCP) and Congress, each with their own share of core voters.But Mr Shinde faces an additional complication – in 2022, he and his supporters defected from the erstwhile Shiv Sena. The rebellion toppled the then-triparty government – an unlikely coalition of the Shiv Sena, Congress and NCP – and forged a new alliance with the BJP to form the new government.”But while lawmakers might change parties, it’s hard to get core voters to switch loyalties,” Mr Dixit says. “By raising the dargah issue, Mr Shinde is hoping to appeal to the emotions of the core voters of the erstwhile Shiv Sena and consolidate the Hindu vote bank,” he says.Image caption, Kushal Misl (left) visits the shrine once every year – a tradition started by his grandfatherHindu devotees the BBC spoke to had mixed reactions to Mr Shinde’s comments. Kushal Misl, for instance, sees Mr Shinde as articulating what has long been on his mind – a belief that the shrine originally belonged to a Hindu saint and was later taken over by Muslims during invasions in India.Rajendra Gaikwad shares a similar view but says that he feels uneasy about the ongoing debate. “Whatever is happening in India right now is very bad,” he says, and underscores his belief that for him, “all gods are one”.Abhijit Nagare, who goes to the shrine every month, says that it doesn’t matter to him which religion the structure belongs to – he likes to visit because he feels at peace there.Nasir Khan, one of the shrine’s trustees, told the BBC that the controversy had led to a dip in the number of devotees visiting the shrine. “People come with their families and don’t want to be hassled by miscreants,” he said. The controversy is also hurting local businesses.Image caption, Visitors have to climb some 1,500 steps to reach the Haji Malang shrineThe structure sitting atop the 3,000ft (914m) hill doesn’t stand alone. The elevation is punctuated with houses, shops, and restaurants carved into the stone and rock over the years. Mr Khan says that about 4,000 people, both Hindus and Muslims, live there. The locals depend on tourism to make a living, but it’s a tough existence.Locals told the BBC that they struggle to get basic amenities like potable water, especially in the gruelling summer months. “Water has to be rationed. Each family is given just 10 litres of water per day,” says Ayyub Shaikh, a local village council member.The hill also doesn’t have a proper hospital, school or an ambulance. “An educated person would not want to live here; there’s nothing for them to do,” says 22-year-old tuk-tuk driver Shaikh, who asked for only his first name to be used.”All politicians want to do is play games to get votes. Nobody really cares about what the people want.” The sentiment is echoed by numerous locals. “Hindus and Muslims have co-existed in harmony on this hill for centuries,” Mr Shaikh says. “We celebrate festivals together and support each other in times of need.”Nobody else stands by us – so why would we fight among ourselves?”Read more India stories from the BBC:A jobs crisis in India is driving workers to IsraelIndian villagers taking on a billionaire’s port planNo bail, no trial: Freedom on hold for Indian activistIndia PM opens grand temple on razed mosque siteSony calls off merger with India media giant ZeeRelated TopicsAsiaMaharashtraIndiaMore on this storyIndia PM opens grand temple on razed mosque sitePublished6 days agoIndia mosque row could become a religious flashpointPublished18 May 2022Top StoriesThree US troops killed in Middle East drone attackPublished43 minutes agoDisposable vapes to be banned over fears for children’s healthPublished6 hours agoBoys, 15 and 16, killed in stabbing attack namedPublished2 hours agoFeaturesDeath of US troops ratchets up pressure on BidenThe bus route that costs £124 per passengerWhen will the Bank start to cut interest rates?The Papers: ‘Iran war’ fears and ‘two more teens killed’ BBC confronts man who abused boy in secretive Christian churchKey UN Gaza aid agency runs into diplomatic stormCould the UK’s ‘pre-war generation’ become a citizen army?What is Ofsted and how do inspections work?Elsewhere on the BBC’One of the best-known artefacts from ancient Egypt’Discover the woman who inspired the Bust of NefertitiAttributionSoundsShe’s not swiping for soulmates…Preview the brand new supernatural drama coming to iPlayer on January 31stAttributioniPlayerOne of the world’s toughest ice races…Leffert Oldenkamp recounts the gruelling Elfstedentocht of 1963AttributionSoundsThe surprising health benefits of doing the plankMichael Mosley explores whether it outshines crunches or sit-ups…AttributionSoundsMost Read1Crisis-hit China Evergrande ordered to liquidate2Boys, 15 and 16, killed in stabbing attack named3Disposable vapes to be banned for child health4Three US troops killed in Middle East drone attack5Young drivers risk fraud to save on insurance cost6The bus route that costs £124 per passenger7Labour MP suspended over Gaza genocide remarks8’It’s a dream come true to work with Zayn Malik’9Special review into NHS trust which treated killer10Champions Chiefs to face 49ers in Super Bowl rematchAttributionSport

[ad_1] In the 1980s, Mr Shinde’s political mentor, Anand Dighe, spearheaded a campaign to “reclaim” the Haji Malang dargah for Hindus. In 1996, he reportedly led 20,000 workers from the…

BBC HomepageSkip to contentAccessibility HelpYour accountLiveNotificationsHomeNewsSportWeatheriPlayerSoundsBitesizeMore menuMore menuSearch BBCHomeNewsSportWeatheriPlayerSoundsBitesizeCBBCCBeebiesFoodClose menuBBC NewsMenuHomeIsrael-Gaza warCost of LivingWar in UkraineClimateUKWorldBusinessPoliticsCultureMoreTechScienceHealthFamily & EducationIn PicturesNewsbeatBBC VerifyDisabilityBusinessMarket DataEconomyYour MoneyCompaniesTechnology of BusinessCEO SecretsArtificial IntelligenceChina tightens stock market rules after sell-offPublished2 hours agoShareclose panelShare pageCopy linkAbout sharingImage source, Getty ImagesBy Mariko OiBusiness reporterChina has tightened its financial industry rules as the government tries to halt a deepening sell-off in the world’s second largest economy.Nearly $6tn (£4.7tn) has been wiped off Chinese and Hong Kong stocks since their most recent peak three years ago.The China Securities Regulatory Commission (CSRC) says the measures will create “a fairer market order”.Under the new rules limits will be put on so-called “short-selling” from Monday.Short selling is when a trader bets that a share or other asset will fall in value. They borrow the asset and sell it immediately with the aim of buying it back later at a lower price and keeping the difference.Defenders of short selling say it can play an important part in financial markets, by helping find the true value of an asset.However, some critics see short selling as a ruthless trading strategy that undermines companies.The latest announcement by the CSRC comes after a series of informal measures introduced by the regulator over the last year did little to shore up financial markets.The CSRC said that following “a complete suspension of the lending of restricted stocks”, which takes effect today, further limitations on securities lending will be introduced from 18 March.Last week, the country’s premier Li Qiang asked authorities to take more “forceful” measures to stabilise share prices.The sell-off in China’s stock market comes as some investors are concerned that the country’s economy could face a long period of slow economic growth.Central to China’s economic problems is its property market. For two decades, the sector boomed and accounted for a third of the country’s entire wealth.But when the government put limits on how much developers could borrow in 2020, they started owing billions which they could not pay back.When property giant Evergrande defaulted in 2021, after missing a crucial repayment deadline, it triggered the current crisis.The real estate sector’s troubles have also revealed issues faced by the country’s so-called “shadow banks” which have lent billions of dollar to developers.The shadow banks operate in a very similar way to traditional banks but are not subject to the same regulations.In November, Chinese officials launched an investigation into “suspected illegal crimes” at one of the country’s biggest shadow banks, Zhongzhi Enterprise Group, which filed for bankruptcy and earlier this month.There are also a number of indications that China’s once-booming economy is slowing sharply.Official figures show the economy expanded by more than 5% in 2023. While that is stronger growth than many other major economies it is much lower than China saw before the pandemic.Meanwhile, the country’s exports, which have been a major contributor to its growth, fell last year.At the same time, youth unemployment hit a record high and local government debt has jumped.Related TopicsChina economyMore on this storyIs China’s economy a ‘ticking time bomb’?Published30 August 2023What China’s economic problems mean for the worldPublished29 September 2023Why businesses are pulling billions from ChinaPublished14 November 2023Top StoriesThree US troops killed in Middle East drone attackPublished4 hours agoDisposable vapes to be banned over fears for children’s healthPublished5 hours agoBoys, 15 and 16, killed in stabbing attack namedPublished1 hour agoFeaturesDeath of US troops ratchets up pressure on BidenThe bus route that costs £124 per passengerWhen will the Bank start to cut interest rates?The Papers: ‘Iran war’ fears and ‘two more teens killed’ BBC confronts man who abused boy in secretive Christian churchKey UN Gaza aid agency runs into diplomatic stormCould the UK’s ‘pre-war generation’ become a citizen army?What is Ofsted and how do inspections work?Elsewhere on the BBC’One of the best-known artefacts from ancient Egypt’Discover the woman who inspired the Bust of NefertitiAttributionSoundsShe’s not swiping for soulmates…Preview the brand new supernatural drama coming to iPlayer on January 31stAttributioniPlayerOne of the world’s toughest ice races…Leffert Oldenkamp recounts the gruelling Elfstedentocht of 1963AttributionSoundsThe surprising health benefits of doing the plankMichael Mosley explores whether it outshines crunches or sit-ups…AttributionSoundsMost Read1Crisis-hit China Evergrande ordered to liquidate2Boys, 15 and 16, killed in stabbing attack named3Disposable vapes to be banned for child health4Three US troops killed in Middle East drone attack5Young drivers risk fraud to save on insurance cost6Labour MP suspended over Gaza genocide remarks7The bus route that costs £124 per passenger8’It’s a dream come true to work with Zayn Malik’9Champions Chiefs to face 49ers in Super Bowl rematchAttributionSport10Special review into NHS trust which treated killer

[ad_1] Nearly $6tn has been wiped off Chinese and Hong Kong stocks since their most recent peak three years ago.

$BBC HomepageSkip to contentAccessibility HelpYour accountLiveNotificationsHomeNewsSportWeatheriPlayerSoundsBitesizeMore menuMore menuSearch BBCHomeNewsSportWeatheriPlayerSoundsBitesizeCBBCCBeebiesFoodClose menuBBC NewsMenuHomeIsrael-Gaza warCost of LivingWar in UkraineClimateUKWorldBusinessPoliticsCultureMoreTechScienceHealthFamily & EducationIn PicturesNewsbeatBBC VerifyDisabilityBusinessMarket DataEconomyYour MoneyCompaniesTechnology of BusinessCEO SecretsArtificial IntelligenceEvergrande: Hong Kong judge orders property giant’s liquidationPublished29 minutes agoShareclose panelShare pageCopy linkAbout sharingImage source, Getty ImagesImage caption, Millions of people in China bought an unfinished home from Evergrande and other developersBy Mariko OiBusiness reporterChina’s debt-ridden property giant Evergrande has been ordered to liquidate by a court in Hong Kong.Judge Linda Chan said “enough is enough” after the property giant failed to come up with a restructuring proposal.Evergrande has been the poster child of China’s real estate crisis with over $325bn (£256bn) of liabilities.When Evergrande defaulted two years ago it sent shockwaves through global financial markets.The decision is likely to send ripples through China’s financial markets at a time when authorities are trying to curb a stock market sell-off.Evergrande shares fell by more than 20% in Hong Kong after the announcement.China’s property sector contributes roughly a quarter of the world’s second biggest economy.Liquidation is a process where a company’s assets are seized and sold off. The proceeds can then be used to repay outstanding debts.However, whether this process is followed may depend on the Chinese government and the liquidation order does not necessarily mean that Evergrande will go bust and collapse.The case was brought by one of its investors, Hong Kong-based Top Shine Global, in June 2022 which said that Evergrande had not honoured an agreement to buy back shares.But what they owed is a fraction of Evergrande’s total debts.The vast majority of the money it owes is to lenders in mainland China who have limited legal avenues to demand their money.Foreign creditors, in contrast, are free to bring cases to court outside mainland China and some have chosen Hong Kong, where Evergrande and other developers are listed, to bring lawsuits against them.Following the making of a winding up order, the companies’ directors will cease to have control.A provisional liquidator – either a government employee or a partner from a professional firm – will likely be appointed by the court, according to Derek Lai, the global insolvency leader at Deloitte.After meetings with creditors, the formal liquidator will be appointed within several months.But most of Evergrande’s assets are in mainland China and despite the “one country, two systems” slogan, there are thorny jurisdictional issues.There is an agreement between the courts of China and Hong Kong to recognise the appointment of liquidators but Mr Lai says that as far as he is aware, “only two out of six applications” have been recognised by courts of three pilot areas in mainland China. The Chinese Communist Party also seems eager to keep developers afloat to make sure that ordinary homebuyers who bought property even before building work began get what they paid for.That means Beijing could choose to shrug off the Hong Kong court order.”Even if the appointed liquidator is mutually recognised in Hong Kong and mainland China, he or she would need to follow the laws of mainland China when conducting approved liquidation-related matters there,” Mr Lai adds.The liquidation order against the parent company does not mean an immediate suspension of Evergrande’s construction work, either.”This does not place all of the subsidiaries into liquidation,” says Nigel Trayers, managing director of restructuring at Grant Thornton, adding that liquidators may seek to take control of certain subsidiaries after conducting investigations.”But they would need to do this by either seeking to place the subsidiaries into liquidation or by appointing themselves as directors of those subsidiaries,” he adds. “In doing this, they will need to move through the corporate structure layer by layer and there may be certain challenges in doing this in practice.”Mr Lai points out that despite the liquidation order, “if a company is insolvent, it is not likely that unsecured creditors would recover the full amount of their claims”.Foreign creditors would also unlikely get their hands on their money before mainland creditors do.Even if Judge Chan’s orders are not carried out in China, it would send a strong message and give us a clue on what other developers and creditors may face.She presides over not just Evergrande, but also other defaulted developers such as Sunac China, Jiayuan and Kaisa.Last May, she ordered the liquidation of Jiayuan after its lawyers failed to explain why they needed more time to iron out their debt restructuring proposal.”How an offshore liquidator would be treated by onshore stakeholders when there are significant local creditors and considerations at play remains to be seen,” says Daniel Margulies, a partner at Dechert in Hong Kong who specialises in restructuring matters in Asia.Evergrande has been working on a new repayment plan but in August last year, it filed for bankruptcy in the US in a bid to protect its American assets as it worked on a deal. The following month, its chairman Hui Ka Yan was put under police surveillance.Related TopicsChinaMore on this storyWhy should I care if Evergrande collapses?Published29 September 2023Evergrande chairman put under police surveillancePublished28 September 2023The rise and fall of Evergrande’s billionaire founderPublished29 September 2023China Evergrande files for US bankruptcy protectionPublished18 August 2023Top StoriesThree US troops killed in Middle East drone attackPublished3 hours agoDisposable vapes to be banned over fears for children’s healthPublished4 hours agoBoys, 15 and 16, killed in stabbing attack namedPublished13 minutes agoFeaturesDeath of US troops ratchets up pressure on BidenThe bus route that costs £124 per passengerWhen will the Bank start to cut interest rates?The Papers: ‘Iran war’ fears and ‘two more teens killed’ BBC confronts man who abused boy in secretive Christian churchKey UN Gaza aid agency runs into diplomatic stormCould the UK’s ‘pre-war generation’ become a citizen army?What is Ofsted and how do inspections work?Elsewhere on the BBCHow are jelly beans made?Gregg Wallace visits a factory in Dublin that makes over ten million of the sweets per day!AttributioniPlayerIs this the greatest Jurassic predator that ever lived?Sir David Attenborough investigates a unique discovery: the skull of a giant, prehistoric sea monsterAttributioniPlayer’I smashed all my trophies’Bradley Wiggins opens up about his mental health and imposter syndromeAttributioniPlayerA Royle Family reunion and the best of the North!Ricky Tomlinson and Ralf Little set off on an epic camper van adventure across Northern EnglandAttributioniPlayerMost Read1Three US troops killed in Middle East drone attack2Disposable vapes to be banned for child health3Young drivers risk fraud to save on insurance cost4British base jumper dies after parachute fails5Boys, 15 and 16, killed in stabbing attack named6The bus route that costs £124 per passenger7Special review into NHS trust which treated killer8’It’s a dream come true to work with Zayn Malik’9’Iran war’ fears and ‘two more teens killed’1049ers set up Super Bowl rematch with champions ChiefsAttributionSport$