R&F Hong Kong subsidiary faces liquidation petition, emphasizing sufficient collateral

After completing all debt restructuring, R&F PROPERTIES still faces a funding crisis. The group recently received a winding-up petition for the unpaid loan of R&F Hong Kong, scheduled for hearing on October 30th. The R&F board emphasized that the winding-up petition does not represent the demands of stakeholders, as it is only filed by a creditor. The group pointed out that the relevant loan is sufficiently secured by collateral, including equity of a wholly-owned subsidiary, and creditors should be able to enforce the collateral through forced execution rather than liquidation. R&F PROPERTIES is seeking legal advice to protect its own interests