Huscoke Holdings Limited (HK:0704) has released an update.
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Huscoke Holdings Limited has disclosed a winding-up petition filed against it by China Cinda (HK) Asset Management over an outstanding facility amount of HK$200 million plus accrued interest. The company’s inability to repay is attributed to the long-term economic impact of COVID-19, which hindered the restart of its international coke trading business. While the company is pursuing the recovery of trade refunds and compensation through legal proceedings, it is negotiating with the petitioner to convert the loan to a secured one, potentially extending the repayment period and partially waiving the interest.
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