spacemanslot| Xin Yaolai (00970): Confidential documents were leaked and joint provisional liquidators were appointed to protect the interests of the company and shareholders

Newsletter summary

New Yaolai (00970) leaked confidential documents due to suspected regulatory insidersSpacemanslotApply to the Bermuda court for the appointment of a joint provisional liquidatorSpacemanslotAimed at safeguarding the interests of the company and its shareholders and ensuring normal operation

Text of news flash

[new Yaolai notice: the company submitted a petition to the Supreme Court of Bermuda and sought the appointment of a joint provisional liquidator] New Yaolai (00970) announced that the company has taken legal action on suspicion that confidential documents deliberately leaked by Hong Kong regulatory insiders may help the offender evade legal liability. In order to protect the interests of the company and its shareholders, the company filed a petition with the Bermuda Supreme Court on 15 April 2024, Bermuda time, and applied for the appointment of a joint provisional liquidator. The purpose of this move is to maintain the sustainability and integrity of the company. [Bermuda Supreme Court decision] after considering all the information received by the Bermuda court, acting Associate Judge Alexandra Wheatley accepted the company's petition and considered it appropriate to exercise his discretion to appoint a joint provisional liquidator. As a result, the Bermuda Supreme Court decided to postpone the hearing of the petition for six months and appointed Deloitte Financial Advisory LtdSpacemanslot. Edward Willmott and Elizabeth Cava of Deloitte and Li Jiaen and he Guoguo of Deloitte Guan Huang Chen Fang

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