Debt-laden Chinese property giant Evergrande has been ordered to liquidate by a court in Hong Kong.
Judge Linda Chan said "enough is enough" after the troubled developer repeatedly failed to come up with a plan to restructure its debts.
The firm has been the poster child of China's real estate crisis with over $325bn (£256bn) of liabilities.
When Evergrande defaulted two years ago it sent shockwaves through global financial markets.
The latest decision is likely to send further ripples through China's financial markets at a time when authorities are trying to curb a stock market sell-off.