China Huishan Dairy Holdings Co., the Hong Kong-listed dairy company targeted by short sellers including Muddy Waters Capital LLC, said on Thursday that it is preparing for provisional liquidation.
The firm had told its Cayman legal advisers to make the preparations, it said in a Hong Kong stock exchange filing. Huishans board earlier found that the net liabilities of its units in China could have been 10.5 billion yuan ($1.58 billion) as of March 31, the company said.
Huishan, which was known as one of the biggest operators of dairy milk farms in China, was described last year by Muddy Waters Founder Carson Block as worth close to zero. He engaged in a war of words with the company, which accused his firm of making allegatio…
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