Brief: Yanchang Petroleum International Announces Bankruptcy Reorganisation Application Of A PRC Unit
07/11/2022 10:36
Nov 7 (Reuters) - Yanchang Petroleum International Ltd
0346.HK :
* BANKRUPTCY REORGANISATION APPLICATION OF A NON-WHOLLY
OWNED PRC
UNIT OF CO
* UNIT PREPARED TO FILE APPLICATION FOR BANKRUPTCY
REORGANISATION
WITH COURT ON OR AFTER 7 NOV
* BOARD BELIEVES UNTIL END OF DEBT RESTRUCTURING, UNIT CAN
CONTINUE ITS BUSINESS AS A GOING CONCERN
* UNIT INTENDS TO RESTRUCTURE EXISTING INDEBTEDNESS THROUGH
APPLICABLE PROVISIONS OF ENTERPRISE BANKRUPTCY LAW OF PRC
* CERTAIN STRATEGIC INVESTORS EXPRESSED THEIR PRELIMINARY
INTERESTS IN INVESTING IN UNIT AFTER DEBT RESTRUCTURING
Further company coverage: 0346.HK
((Reuters.Briefs@thomsonreuters.com;))
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