South Shore Holdings is facing the loss of its primary asset, THE 13 Hotel in Macau, plus delisting from the Hong Kong Stock Exchange should the Macau court officially declare the company bankrupt.
After applying to the court this week for voluntary liquidation of its wholly-owned subsidiary New Concordia Hotel Limited, the sole beneficial owner of THE 13 Hotel, South Shore issued a supplementary announcement overnight in which it confirmed the court would first appoint a liquidator and one or more creditors to assist the liquidator, to provide an opportunity for the company to avoid liquidation via approved liquidation preventative measures.
These, it said, could include a debt restructuring plan or a business continuation agreement …
Read the full article at: https://www.asgam.com/index.php/2021/06/25/likely-macau-bankruptcy-decision-to-see-south-shore-lose-control-of-the-13-hotel-delisted-from-hong-kong-stock-exchange/
