Banks seek to liquidate Full Apex unit over US$46m loan

FULL Apex, a China-based plastic bottle maker, on Monday said banks are seeking to liquidate its wholly owned unit Jetzen Investment, after Jetzen failed to settle the outstanding principal and accrued interest of a US$46 million loan.

The banks involved are Standard Chartered Bank, Australia and New Zealand Banking Group, BNP Paribas and Fubon Bank. The facility agreement was signed in 2013.

The company said it is seeking legal advice.