Evergrande's Hong Kong headquarters worth $1 bn taken over by a receiver

The property was used as security for HK$7.6 billion ($968 million) in loans made by parties including Citic Bank International in 2020, separate documents at the Companies Registry website show

China Evergrande Group’s Hong Kong headquarters building has been taken over by a receiver, according to a document from the Companies Registry, confirming previous reports that the developer had lost control over the tower worth more than $1 billion.

Alvarez & Marsal Asia Ltd. has become the receiver controlling the China Evergrande Centre in the Wan Chai area, the record shows. It is unclear from the document who appointed Alvarez & Marsal. 

The Financial Times last week reported that a lender had seized the property, adding that the embattled Chinese developer had pledged the building for loans from a consortium of