Brief: Longfin says Decided To Cease Operations, Liquidate

Longfin

21/11/2018 16:34

Nov 21 (Reuters) - LongFin Corp  LFIN.PK :
    * DECIDED TO CEASE OPERATIONS AND TO PROVIDE FOR AN ORDERLY
LIQUIDATION OF ITS ASSETS
    * DECISION FOLLOWS "UNSUCCESSFUL EFFORTS" OF CO TO
RESTRUCTURE
OUTSTANDING DEBT AND TO OTHERWISE SATISFY CREDITOR OBLIGATIONS
    * ALL OF THE EMPLOYEES OF THE COMPANY WERE TERMINATED
    * CONCLUDED THAT MATERIAL IMPAIRMENT CHARGE MAY BE REQUIRED
FOR
ALL ASSETS; UNABLE TO DETERMINE AMOUNT OF IMPAIRMENT CHARGE AT
THIS TIME

Source (https://bit.ly/2Ts5Rz0)
Further company coverage:  LFIN.PK 

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