Brief: Alco Holdings Says Group Received Three Writs Of Summons From Supplier In Respect Of Outstanding Sums Due

Alco Holdings

07/06/2022 15:55

June 7 (Reuters) - Alco Holdings Ltd  0328.HK :
    * GROUP RECEIVED THREE WRITS OF SUMMONS FROM SUPPLIER IN
RESPECT
OF OUTSTANDING SUMS DUE AND OWING BY GROUP
    * GROUP RECEIVED CERTAIN DEMAND LETTERS FROM
SUPPLIERS/CONTRACTOR
IN RESPECT OF OUTSTANDING SUMS DUE AND OWING BY GROUP
    * GROUP HAS CERTAIN BANKING FACILITIES WITH PRINCIPAL
BANKERS, HSB
AND SCB, WHICH HAS FALLEN DUE AND REMAIN OUTSTANDING
    * GROUP CURRENTLY SEEKING LEGAL ADVICE IN RESPECT OF MERITS
OF
ALLEGED CLAIMS AND WILL MAKE METICULOUS REPLY TO LITIGATIONS
    * AGGREGATE AMOUNT OF OUTSTANDING SUMS IS ABOUT HK$27.6
MILLION
PLUS INTEREST AND COSTS
    * IS IN ACTIVE DISCUSSION WITH THE TWO BANKS FOR A POTENTIAL
RESOLUTION
    * PAYMENT OF PRINCIPAL AMOUNT OF HK$28.1 MILLION BY ALCO
ELECTRONICS HAS FALLEN DUE AS OF 31 MAY
    * PAYMENT OF PRINCIPAL AMOUNT OF HK$161.1 MILLION BY WINDOM
LIMITED FALLEN DUE AS OF 31 MAY

Source text for Eikon:  ID:nHKS3WpNTh 
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