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China Dairy prepares for liquidation after Muddy Waters' red flag

Company says its net liabilities could be 10.5b yuan as of March 31, after denying it earlier

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Huishan, which was considered one of the biggest operators of dairy milk farms in China, was described last year by Muddy Waters founder Carson Block as "worth close to zero".

Shanghai

CHINA Huishan Dairy Holdings Co, the Hong Kong-listed company targeted by short sellers including Muddy Waters Capital LLC, is preparing for provisional liquidation in a move that could protect its assets as it negotiates with creditors.

The firm had told its Cayman legal

sentifi.com

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