| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers R > Headlines for Reward Science and Technology Industry Group Co., Ltd. > News item |
Creditor meetings begin regarding Reward’s $200 million 7¼% notes
By Rebecca Melvin
New York, Dec. 18 – Reward International Investment Ltd., the issuer of $200 million of 7¼% notes due 2020, met with creditors for the first time on Dec. 13, as planned, regarding the bankruptcy and reorganization cases of five companies.
The meeting was held under the auspices of Beijing Chaoyang District People’s Court in the form of an online conference and involved Reward Science & Technology Industry Group Co., Ltd., Beijing Suvow Dairy Co., Ltd., Beijing Reward Homecare Chemical Co., Ltd., Reward Homecare Chemical (Jiangsu) Co., Ltd. and Beijing Zitong Hongfa Mining Investment Co. Ltd.
At the meeting, the administrator delivered a performance report and investigation report on property status, as well as delivered a creditor’s rights review report and asked creditors to check the claim form.
Also, under provisions of bankruptcy court law, the administrator was to report on its remuneration plan, the court was to appoint a chair for the creditor’s meeting, and questions from creditors were to be answered.
The 7¼% notes are guaranteed by Reward (HK) International Co. Ltd. and Reward Science and Technology Industry Group Co. Ltd.
As previously reported, the district people’s court ruled on Nov. 6 to accept the application for the bankruptcy and reorganization of the Beijing Zitong Hongfa Mining Investment Co., Ltd.
Reward Science and Technology maintained significant financial transactions with Beijing Zitong, and as the largest creditor of Beijing Zitong, also acted as the debt guarantor.
Beijing Weiheng Law Firm has been designated as the administrator.
Beijing-based Reward Science and Technology makes and distributes food products, including milk powder and anhydrous butter products. It owns Reward (HK) International, which is a guarantor of Reward International’s $200 million 7¼% senior notes due 2020.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.