Hong Kong's High Court appointed liquidators for China Evergrande Group's (HKG:3333) unit, CEG Holdings (BVI), effective Sept. 12, as part of an ongoing winding-up petition against the unit filed by the company, according to a Friday filing with the Hong Kong bourse.
Edward Simon Middleton and Wing Sze Tiffany Wong, both of Alvarez & Marsal Asia, will be the joint and several provisional liquidators of the CEG Holdings.
CEG Holdings owns about 49.65% of the issued shares of Evergrande Property Services Group (HKG:6666), a member of the Evergrande Group and a listed company on the Stock Exchange.
The liquidators will ensure that the company's assets are preserved and can be used to benefit the creditors and other stakeholders.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.