Regulator seeks to liquidate Chinese recycler
Jul 29, 2013 | 01:31 PM
| Sean Davidson
NEW YORK Hong Kongs Securities and Futures Commission (SFC) has begun an official process to wind up a large Hong Kong-based scrap company after its investigations supported a U.S. research firms findings that the company had overstated its operations and revenue.
The SFC had petitioned Hong Kongs Court of First Instance to liquidate China Metal Recycling (Holdings) Ltd., a publicly listed company in Hong Kong, it said July 29.
The commission obtained orders from the court to appoint Borrelli Walsh Ltd.s Cosimo Borrelli and Jocelyn Chi Lai Man as provisional liquidators for the recycler.....
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