Paul Y. Engineering, a contractor with a history spanning 78 years in the city, is reportedly encountering financial difficulties. The High Court on Monday ordered the winding up of its parent company along with a related firm after submitting a liquidation petition earlier.
The concerned companies are “Paul Y. Engineering Group Limited” and “Paul Y. Management Limited”
The court has earlier appointed a provisional liquidator for the five subsidiaries of the Group to handle debts and formulate a restructuring plan.
The long-standing contractor had built numerous public and private housing projects, including landmark The Center and The Mills in Tsuen Wan.
However, the Group has faced multiple…
