Xinjiang La Chapelle Fashion Co., Ltd. Class H (HK:6116) has released an update.
Xinjiang La Chapelle Fashion Co., Ltd. is undergoing bankruptcy reorganization, with the Shanghai No.3 Intermediate People’s Court appointing JunHe LLP as the new administrator after King & Wood Mallesons had a conflict of interest. The court has extended the deadline for submitting the draft reorganization scheme to August 12, 2024, as the company works with relevant parties to manage the reorganization process. Shareholders face the risk of their shares being reduced to zero value if reorganization plans fail and the company is declared bankrupt.
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