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Inno-Tech Hold (08202) demanded repayment of $10M
12 Jul 2019
(Infocast News) On 12 July 2019, Inno-Tech Holdings (08202) received a statutory demand dated 10 July 2019 issued by the legal representative of Grand Harbour Finance demanding Inno-Tech Holdings to repay a principal sum of HK$10 million plus interest.

The statutory demand was issued pursuant to section 178 of the Companies (Winding Up and Miscellaneous Provisions) Ordinance, Chapter 32 of the Laws of Hong Kong. If Inno-Tech Holdings fails to repay the outstanding amount within 21 days, a winding-up order may be made in respect of the company.

Inno-Tech Holdings is actively negotiating with the creditor for settlement method(s) of the outstanding amount and is also seeking legal advice on the matter.

(WL)
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