Momentum Financial Holdings Faces Repayment Demands

Momentum Financial Holdings Limited (HK:1152) has released an update.

Momentum Financial Holdings Limited has issued a clarification regarding a clerical error in the date of a statutory demand, which was previously misstated as 10 October 2020 instead of the correct date of 10 October 2024. Following this statutory demand for unpaid promissory notes totaling HK$20 million, the company received a second demand for immediate repayment of an additional HK$9.2 million. The company is currently seeking professional advice and negotiating with creditors, as they may not be able to meet the demands, which could potentially trigger cross-defaults on other debts.

For further insights into HK:1152 stock, check out TipRanks’ Stock Analysis page.