South Shore Holdings, currently undergoing provisional liquidation, says that it has to further delay the publication of its annual results, citing a lack of funds available to the liquidators.
South Shore Holdings, the company behind the opulent The 13 Hotel in Macau, announced on Tuesday that the company has been ordered to be wound up.
South Shore Holdings said Hong Kong High Court Judge has agreed to hear substantive arguments in a case against the company seeking urgent injunctive relief.
South Shore Holdings will be attending an inter partes hearing in Hong Kong later this morning after an ex parte application and a writ of summons was filed against the company in the Hong Kong High Court earlier this week.
South Shore Holdings, owner of Macau's The 13, has said it won't be able to publish its financial results for 2020 according to the deadline set by the Hong Kong Stock Exchange and as a result its shares will be suspended from trading from July 2 until the release of the figures.
South Shore Holdings, the owner of Macau's The 13, said it had received a winding up petition filed in Bermuda over HK$7 million in debt linked to a term loan facility.
South Shore Holdings warns that it may be delisted from the Hong Kong Stock Exchange should its Macau subsidiary be declared bankrupt.
South Shore Holdings said the Macau unit that owns indebted luxury hotel, The 13, has applied for voluntary liquidation.