COCOON HOLDINGS and the petitioner have signed a settlement agreement and jointly filed a consent summons seeking the court's order to allow the withdrawal of the petition
COCOON HOLDINGS has reached a settlement agreement with the petitioner, and both parties have jointly signed a consent order seeking the court's approval to withdraw the winding-up petition and cancel the hearing originally scheduled for December 31. The group stated that this petition has no significant impact on its operations and financial condition. The petitioner is an independent third party that issued promissory notes in 2017, with unpaid interest amounting to 1.1 million
According to a report from the Economic Information Agency on the 5th, COCOON HOLDINGS (00428) announced that it has reached a settlement agreement with the petitioner regarding the winding-up petition. The petitioner and the group have jointly signed a consent summons through their respective legal representatives, seeking the court's permission to withdraw the petition according to the agreement, without any order for costs; and to cancel the hearing scheduled for December 31 at the High Court of Hong Kong.
The group stated that the petition has no significant impact on its operations and financial condition. The petitioner is an independent third party and a holder of the promissory notes issued by the group in 2017, with a principal amount of 10 million yuan, which matured on March 31. As of yesterday, the unpaid interest amount is 1.1 million yuan. (wh)
