Bright culture (01859) announced that on July 3, 2024, the company received a statutory demand letter issued by the lawyers representing the creditor, Yongfeng Bank, on July 2, 2024, pursuant to Section 178(1)(a) or Section 327(4)(a) of the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Chapter 32 of the Hong Kong Laws), requiring the company to pay RMB 29.9372 million, the total amount payable by the company to the creditor pursuant to the arbitration award made by the Shenzhen International Arbitration Court, including the unpaid principal amount of the relevant loan and its accrued default interest, as well as legal expenses and arbitration fees. The statutory demand letter requires the company to repay the debt within three weeks of the date of the statutory demand letter, otherwise the creditor may apply for winding up of the company.
Bright Culture (01859) announced that on July 3, 2024, the company received a statutory demand letter issued by the lawyers representing the creditor, Yongfeng Bank, on July 2, 2024, pursuant to Section 178(1)(a) or Section 327(4)(a) of the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Chapter 32 of the Hong Kong Laws), requiring the company to pay RMB 29.9372 million, the total amount payable by the company to the creditor pursuant to the arbitration award made by the Shenzhen International Arbitration Court, including the unpaid principal amount of the relevant loan and its accrued default interest, as well as legal expenses and arbitration fees. The statutory demand letter requires the company to repay the debt within three weeks of the date of the statutory demand letter, otherwise the creditor may apply for winding up of the company.
In addition, the trading of the shares remains suspended.