China Fishery evades HSBC’s winding up claim

The appointment of provisional liquidators has been discontinued.

A winding-up petition filed against China Fishery has been junked by the High Court of Hong Kong, according to a statement by its parent company Pacific Andes Resources.

China Fishery and its subsidiary CFIL have been placed on provisional liquidation after being the subject of a winding-up petition filed by HSBC.

The statement noted that after hearings, the Hong Kong court ordered to discontinue theappointment of the provisional liquidators over CFGL and CFIL. It has also refused HSBC’s applications for leave to appeal and the request for a stay of execution of the order.

The HK Court will provide reasons for its decision at a later point, the statement said.