Ocean Grand wind up petitions hearing adjourned to April 16

By Caroline Salls

Pittsburgh, Dec. 29 - Ocean Grand Holdings Ltd. and Ocean Grand Chemicals Holdings Ltd. said the hearing on approval of the wind up petitions against Ocean Grand, Ocean Grand Chemicals, Hing Yip Holdings (Hong Kong) Ltd. and Kenlap PGC Manufacturer Co. Ltd. was adjourned to April 16 from Dec. 18, according to a company news release.

On Dec. 7, the high court ordered that Lai Kar Yan and Darach E. Haughey be appointed as the provisional liquidators of Ocean Grand subsidiaries Sky Leader and OG Development Co. Ltd.

According to the release, Hing Yip presented winding up petitions for Sky Leader Industries Ltd. and OG Development to the High Court of Hong Kong on Dec. 5.

As previously reported, trading in Ocean Grand shares was suspended on July 17 and will remain suspended until further notice.

Ocean Grand is a Hong Kong-based chemical company.

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