Evergrande's liquidation will not pay off for foreign investors

Bondholders who took Chinese developer to court may get only emotional satisfaction

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An unfinished China Evergrande residential project in the city of Shijiazhuang: Developers' operations and assets remain mostly based in mainland China. © Reuters

Benjamin Fanger, a licensed attorney, is the founder and managing partner of ShoreVest Partners, a China-focused private credit firm based in Guangzhou.

In the eyes of some observers, the liquidation of property developer China Evergrande Group will be a key test of whether Beijing respects the rights of foreign investors.

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