IDT INT'L (00167) issued an announcement. On March 19, 2024, the company accepted...
According to Zhitong Finance App, IDT INT'L (00167) issued an announcement. On March 19, 2024, the company received a statutory claim dated March 19, 2024 issued by a creditor under section 178 (1) (a) or section 327 (4) (a) of the Companies (Liquidation and Miscellaneous Provisions) Ordinance (Chapter 32 of the Laws of Hong Kong), requiring the company to pay HK$15 million within three weeks from the date of delivery of the statutory claims. Otherwise, creditors can file a winding-up petition against the company.
The board of directors is seeking legal advice on statutory debt repayment requirements and is working closely with professional advisors to develop a restructuring plan to resolve the Group's overall debt issues.
Furthermore, trading continues to be suspended.