South Shore Holdings, the operator of luxury hotel, The 13, says it has received a statutory demand from its creditor to pay its debt of HK$3.3 billion within three weeks, or it may be presented with a winding up petition from the company.
A winding up petition is considered the most legal action a creditor can take – which typically forces a company into liquidation and closure.
South Shore says it will be taking legal advice in this regard.
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