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29

Huishan Dairy Creditor Targets Units With Bankruptcy Application

By Tony Seruga

Chinese creditor files against two Huishan subsidiaries
Hang Seng Bank filed to appoint joint provisional liquidator

China Huishan Dairy Holdings Co., the Hong Kong-listed company targeted by short sellers including Muddy Waters Capital LLC, said that a Chinese creditor has filed bankruptcy restructuring applications against two of the firm’s units.

The latest action is a further sign that creditors are closing in on the embattled dairy firm, as offshore and onshore lenders jostle for the firm’s assets. It comes shortly after Hang Seng Bank filed an application for the appointment of joint provisional liquidators on Nov. 25. Huishan Dairy earlier this month said that it is preparing for provisional liquidation…

Huishan Dairy Creditor Targets Units With Bankruptcy Application

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