Renco Holdings Group Ltd. (HK:2323) has released an update.
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Renco Holdings Group Ltd., facing escalating pressure from its Lender, has received the Fifth HK Demand Letter, signaling the Lender’s intention to begin legal proceedings and enforce collateral against the company and its subsidiaries to secure repayment of outstanding loans and accrued interest. The comprehensive collateral and guarantees involve multiple subsidiaries within the Group, with significant restructuring having occurred among the guarantors. The loan interest accrued has been calculated at approximately RMB98.9 million, covering the period up to mid-June 2024.
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