Brief: China Fishery Updates On Restructuring Initiatives
20/12/2018 09:34
Dec 20 (Reuters) - China Fishery Group Ltd CNFG.SI :
* BEEN ENGAGED IN REGULAR DISCUSSIONS WITH CREDITORS &
POTENTIAL
PLAN INVESTORS TO FACILITATE FILING OF AN AMENDED RESTRUCTURING
PLAN
* AS OF ANNOUNCEMENT DATE, CO HAS NOT ENTERED BINDING
AGREEMENT
WITH ANY PARTY WITH RESPECT TO FINANCIAL RESTRUCTURING OF
CO/UNITS
* BOARD HAS NOTED THAT ABOUT US$78 MILLION IS OWED TO CO BY
TWO
RUSSIAN FISH SUPPLIERS SINCE SEPTEMBER 2015, AND REMAINS
OUTSTANDING
* IN VIEW OF LOW RECOVERY CHANCE, DIRECTORS RECOMMEND CO
MAKE
PROVISION IN ITS ACCOUNTS OF US$78 MILLION
Source text for Eikon: urn:newsml:reuters.com:*:nSNZ8LqbYc
Further company coverage: CNFG.SI
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