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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
Published Fri, Nov 17, 2017 · 09:50 PM
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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 advisers to make the preparations, it said in a Hong Kong stock exchange filing Thursday.
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