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Adaltis filing for bankruptcy protection Citic Pacific holds more than 6% stake

Source: Internet
Author: User
Keywords Citic Pacific filing for bankruptcy equity
Tags business business value company filed filed for bankruptcy listed
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Citic Pacific (00267) announced that its 6.3%-owned Canadian-listed Adaltis has filed for bankruptcy protection.　　The company has been granted protection orders by the courts and can carry out debt restructuring and recapitalisation, including through the sale of assets to preserve business value. Citic Pacific said that because it held only a minority interest, it did not believe that the matter would constitute any significant impact.　　The Executive Director, Guo Wenliang, has served as Adaltis director, but resigned last year, Guo Wenliang Citic 1616 (01883) and DCH (01828) non-executive directors. In addition, Citic Pacific Director Peter Clette is now Adaltis director. (Economic communication)

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