Xinjiang La Chapelle Fashion Co., Ltd. Class H (HK:6116) has released an update.
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Xinjiang La Chapelle Fashion Co., Ltd. is undergoing a complex bankruptcy reorganisation process, with a creditor-initiated liquidation petition leading to court-ordered reorganisation and the selection of a reorganisation investor. The proceedings have seen multiple administrators and extensions for submitting the draft reorganisation scheme, which is currently set for 12 August 2024. The company’s financial future is further complicated by a pending court decision on the consolidation request of 40 creditors with 32 related companies.
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