Imperial Pacific International Holdings (IPI) has had its next winding-up petition hearings pushed back to January 17th.
According to a Wednesday filing with the Hong Kong Stock Exchange, IPI has two petitions – regarding HK$20.83 million ($2.7 million) and HK$5.3 million ($580,000) set to be discussed – with both petitions now set to be heard only next year after previous hearings scheduled for November 22nd and December 6th.
The group informed on Wednesday that ‘no winding-up order has been granted by the High Court of Hong Kong’.
The group is further ‘actively seeking legal advice in respect of the petitions, and will adopt all effective rescuing and releasing measures, including but not limited to proposing a debt restructuring plan to the creditors of the company’.
The group’s trading has been suspended since April 1st and will remain so ‘until further notice’.
