Mar
28
Unreachable Huishan Executive Exposes China Debt, Bank Risks
ByAn unreachable corporate treasurer. An emergency meeting with creditors. A $4.1 billion stock collapse. And a vindicated short seller.
All that and more converged in a remarkable week for China Huishan Dairy Holdings Co., a milk producer with outsized ambitions that may turn into the country’s latest poster child for weak corporate governance, the dangers of leverage and the potential for financial shocks.
Four days after a sudden 85 percent drop in Huishan shares left investors grasping for answers, the company laid out its version of events in a Hong Kong exchange filing on Tuesday…
Unreachable Huishan Executive Exposes China Debt, Bank Risks
