Brief: China Creative Digital Entertainment Says It Came To Notice Legal Actions Against Chairman

China Creative Digital Entertainment

07/09/2022 15:43

Sept 7 (Reuters) - China Creative Digital Entertainment Ltd
 8078.HK :
    * COME TO NOTICE THAT A NUMBER OF LEGAL ACTIONS COMMENCED
AGAINST
CHAIRMAN
    * PETITION FOR BANKRUPTCY COMMENCED BY CAPITAL UNION ON 5
SEPT IN
COURT OF FIRST INSTANCE AGAINST CHAIRMAN
    * WILL CONTINUE TO ASSESS IMPACT OF LEGAL ACTIONS & PETITION
ON
CO'S FINANCIAL PERFORMANCE & BUSINESS OPERATION
    * WILL USE BEST ENDEAVOURS TO LIAISE WITH CREDITORS &
CHAIRMAN FOR
SETTLEMENT & WITHDRAWAL OF LEGAL ACTIONS
    * AFTER NOTICE, CO HAS OUTSTANDING DEBTS HK$545 MILLION, OF
WHICH
CHAIRMAN PROVIDED PERSONAL GUARANTEE AS SECURITY
    * HAS INSUFFICIENT CASH RESOURCES TO SETTLE ALL ITS DEBTS
AND
LIABILITIES

Further company coverage:  8078.HK 

 ((Reuters.Briefs@thomsonreuters.com;))