Brief: Grand T G Gold updates on litigation instituted by purported creditor

GT Gold Holdings

08/07/2016 15:25

July 8 (Reuters) - Grand T G Gold Holdiings Ltd  8299.HK : 
 
 * Company's latest development, change in auditor, progress on appeal application and litigation instituted by a purported creditor  
 * Discussions to raise approximately hk$100 million by way of open offer and 
its fund proof is in an advance form of conclusion 
 * Recently been served with winding-up petition by purported creditor of company to grand court of Cayman Islands against the company 
 * The petitioning debt stated in the winding-up petition is an alleged sum due 
to the petitioner by co of hk$19.5 million 
 * Petitioner seeks an order for the appointment of joint official liquidators 
to the company 
 * If claim is indeed found to be valid, petitioner would be eligible to participate in the proposed fund raising and debt settlement plan 
 * Source text for Eikon  ID:nHKS3ZRGG7  
 
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