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Momentum Financial Faces Statutory Demand Amid Debt Restructuring

Story Highlights
  • Momentum Financial received a statutory demand for HK$50,881,644 from Forever Brilliance.
  • The statutory demand does not affect the company’s ongoing debt restructuring efforts.
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Momentum Financial Faces Statutory Demand Amid Debt Restructuring

The latest update is out from Momentum Financial Holdings Limited ( (HK:1152) ).

Momentum Financial Holdings Limited has received a statutory demand from Forever Brilliance International Group Co., Limited, demanding payment of HK$50,881,644 related to outstanding convertible bonds. The company is seeking legal advice and intends to negotiate with Forever Brilliance. The statutory demand does not impact the company’s ongoing debt restructuring efforts, which involve other creditors. Trading in the company’s shares, previously halted, is set to resume.

More about Momentum Financial Holdings Limited

YTD Price Performance: 69.33%

Average Trading Volume: 1,560,187

Technical Sentiment Consensus Rating: Sell

Current Market Cap: HK$124.7M

See more insights into 1152 stock on TipRanks’ Stock Analysis page.

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