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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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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