Evergrande has become the mother of all casualties in China’s real estate crisis, crumbling under the weight of its own debt, and leaving homebuyers and investors reeling.

The latest twist in the Evergrande saga came this week when a Hong Kong judge ordered the property giant liquidated. The ruling comes more than two years after the developer first defaulted on a bond payment.

Can Evergrande’s bondholders ever be made whole? What will it take to restore confidence in China’s property market? And why might the worst not yet be over? Bloomberg Intelligence senior analysts Kristy Hung and Daniel Fan join hosts John Lee and Tom Corbett to assess the ruling's impact and what lies ahead.