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OTS - CHINA EVERGRANDE GROUP- Insolvency petition against real estate conglomerate ready - International creditor and DMSA seek co-venturers filing for insolvency too (part 2)

2021. December 08. 11:30
Berlin, Germany, 8 December, 2021 (APA/OTS) -
"The fact that the Chinese government has now sent high-ranking state officials to Evergrande's boardroom and thus de facto controls the group does not necessarily mean that all claims - especially those of foreign investors - will also be serviced," fears Dr. Metzler. Rather, he sees it as likely that Evergrande's inevitable insolvency will lead to a host of other bankruptcies. "To avoid internal unrest, China would then be forced to return to a hard-line communist approach," concludes Dr. Metzler. In his view, this would ultimately imply that all of China's international debt of around $585 billion would no longer be serviced, and equity investments by foreign investors of around $600 billion would also have to be written off completely - with devastating consequences for the global banking system and the entire world economy. "Supply chains would be even more strained than they already are today. This, in turn, would then inevitably lead to galloping inflation in the U.S., Europe and other countries. As a result, there would be extreme distortions in the global financial system - with insolvencies of players who are still considered rock solid today," fears Dr. Metzler. "Triggered by a Chinese financial virus called Evergrande, the world could face a 'Great Reset,' the final collapse of the current global financial system." About Financial Market Partners Capital (FMPC) Consulting AG: Financial Market Partners Capital (FMPC) Consulting AG, is a private investment and advisory firm based in Ruggell, Liechtenstein. As a single family office, FMPC Consulting AG invests exclusively own funds of its owner, the Metzler family. About the Evergrande investment of FMPC Consulting AG: FMPC Consulting AG holds 200 units of the EVERRE 10 1?2, 11 April 2024 bond (ISIN: XS19 8204 0641) with a nominal value of 200,000 US dollars. These were purchased on November 01, 2021 for 50,000 US dollars via the house bank of FMPC Consulting AG and have since been held in custody at SIX Switzerland via the house bank in Liechtenstein. Already on October 11, 2021 an interest payment for this bond was missed. The bond terms and conditions provide for this case: If the payment of the accrued interest is not made on the actual payment date, but still during the 30-day grace period, this interest payment is to be credited to the seller of the bond. If, on the other hand, payment of the accrued interest is made after the grace period (grace period), it is credited to the purchaser upon payment. This means that if payment is made after the grace period - in this case, after November 10, 2021 - this payment must be made to FMPC Consulting AG for the securities held by FMPC Consulting AG. Contrary to the widespread reporting of alleged interest payments, this has not happened to date. FMPC Consulting AG therefore requested an official statement on the interest payments from Clearstream and Citibank as paying agents for the bond more than a week ago. This official statement has not been received by FMPC Consulting AG to date. About DMSA Deutsche Markt Screening Agentur GmbH: The research house, which has the same owner as FMPC Consulting AG, the Metzler family, sees itself as an advocate for consumers, private customers and private investors. For them, DMSA bundles important and decision-relevant information and prepares it in an easily understandable way. DMSA works with FMPC Consulting AG as needed. Press contact: Inga Oldewurtel Press Officer mailto: oldewurtel@prio-pr.de Tel.: +49 176 62 26 18 97 Responsible for the content: DMSA Deutsche Markt Screening Agentur GmbH Wichertstraße 13 10439 Berlin Germany Michael Ewy Managing Director http://www.dmsa-agentur.de ------------------------------------------------------------------- Az OTS internetes oldalán található hírek, közlemények, fotók a forrásmegjelöléssel (OTS) szabadon és korlátozás nélkül felhasználhatók. Továbbközlés esetén a közzétevő köteles az átvett anyagot tartalmának torzítása nélkül, félreérthetőséget, rosszindulatú következtetéseket kizáró, az eredeti szövegkörnyezetnek megfelelő módon feldolgozni és megjelentetni. Az OTS hírek nem képezik az MTI hírkiadás részét, az MTI által szó szerint továbbított tartalomért minden esetben a beadó a felelős. © Copyright MTI nonprofit Zrt. Az OTS szolgáltatással kapcsolatban további információt a (06-1) 441-9050 telefonszámon vagy a ots@mti.hu elektronikus levelező címen kaphat.
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