Winding-up petition against Innopac Holdings withdrawn

THE winding-up petition against Innopac Holdings by creditor CBK Holdings has been withdrawn, the investment holding company announced on Tuesday after market close.

CBK Holdings served a statutory demand on Innopac in March for almost S$214,000 in loan principal and interest. It filed the winding-up application against Innopac on Apr 24, with a hearing set on May 17.

On Tuesday, Innopac said that the petition was withdrawn and discontinued on May 17, "further to full and final settlement by the company of all amounts claimed" by CBK Holdings.

Trading in Innopac shares has been suspended since June 7, 2018.