A Tsunami Of Bankruptcy Is Coming From The East-Former Fitch Analyst Confirms That Evergrande Bankruptcy Is Evident-No Proof The Company Made Its Interest Payment As Advertised Last Friday
By Stan Szymanski
Encouraging Angels
October 26, 2021

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Yesterday, I wrote a piece titled ‘Whistling Past The Graveyard-Investors Cheer The Interest Payment Made By Evergrande at the 11th hour-The Veiled Risks And Deception Of The Orients’ Real Estate Developers’ because of my concern about the Evergrande situation turning into a global event. I name today’s article, ‘A Tsunami Of Bankruptcy Is Coming From The East’ after reading the English press release via PR Newswire out of Berlin by DMSA (Deutsche Markt Screening Agentur GmbH) regarding the research written by former Fitch analyst, Dr. Marco Metzler.

According to the press release Dr. Metzler and co-authors Ewy and Dam they…’demonstrate in detail in the report for the German market screening agency DMSA that international investors alone have put around 23.67 billion US dollars into 23 bonds and three large loans of the lurching property developer. Among the already known institutional investors are such well-known addresses as Fidelity, Blackrock, UBS, Ashmore Group, Prudential, HSBC, Pictet, Vontobel, BNP and Allianz. "At the same time, we are far from aware of all international investors, but only 148 investors with increased reporting obligations, such as fund companies, who have invested a total of $3.44 billion, are known. There could still be some negative surprises here," believes Dr. Metzler.’…