HONG KONG, Nov 16 (Reuters) – China Huishan Dairy Holdings Ltd, which earlier this month said it had come to an agreement with a majority of Chinese creditors on a debt restructuring, said it instructed lawyers to prepare for its provisional liquidation.
Chinas largest integrated dairy company said on Thursday it had issued the instruction after concluding at a Nov. 15 board meeting that the combined net liabilities of its subsidiaries in China could have been 10.5 billion yuan ($1.58 billion) as of March 31, 2017.
The board has instructed the Cayman legal advisors of the Company to prepare the relevant documentation to place the Company into provisional liquidation, China Huishan Dairy said.
Such steps will take into account, as far as …
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