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Hong Kong’s Lamtex contemplating restructuring plan
Chicago, June 9 – Lamtex Holdings Ltd. announced a possible restructuring plan in a notice on Tuesday.
The company currently has approximately HK$150 million of debt as of Dec. 31, 2019.
One option is for a light-touch provisional liquidator by way of an application to the Supreme Court of Bermuda. Additionally, the company is looking at raising additional funds, possibly around HK180 million.
The company and China United Capital Ltd. have entered into a term sheet in relation to a possible restructuring plan with United Capital as a potential investor.
Hong Kong-based Lamtex Holdings, formerly China New Energy Power Group Ltd., is an investment holding company principally engaged in the securities trading and investment and property investment.
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