Brief: China Oceanwide Holdings Announces Update On Winding Up Petition Against Co

China Oceanwide Holdings

26/08/2022 11:14

Aug 26 (Reuters) - China Oceanwide Holdings Ltd  0715.HK :
    * UPDATE ON WINDING UP PETITION AGAINST COMPANY
    * ON 25 AUG, CHINA OCEANWIDE REAL ESTATE DEVELOPMENT III,
CO,
AMONG OTHERS ENTERED INTO A FORBEARANCE AGREEMENT
    * UNDER AGREEMENT, LENDER PARTIES FORBEAR FROM EXERCISE OF
ADMINISTRATIVE AGENT'S RIGHTS AND REMEDIES UNDER LOAN DOCUMENTS
    * BORROWER PARTIES TO MAKE INTERIM FORBEARANCE EXTENSION
PAYMENTS
IN EXCHANGE FOR A STANDSTILL PERIOD
    * FORBEARANCE AGREEMENT WILL PROVIDE COMPANY WITH ADDITIONAL
TIME
TO REPAY OUTSTANDING SUMS
    * INTERIM FORBEARANCE EXTENSION PAYMENTS IS FROM EFFECTIVE
DATE OF
FORBEARANCE AGREEMENT UNTIL 31 OCT

Further company coverage:  0715.HK 

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