Lender HSBC asks court to wind up China Fishery Group

The HSBC headquarters at Hong Kong's financial Central district on Nov 3, 2015.
The HSBC headquarters at Hong Kong's financial Central district on Nov 3, 2015.PHOTO: REUTERS

SINGAPORE (REUTERS) - HSBC, a lender to Singapore-listed China Fishery Group, said it has filed an application with the Hong Kong High Court to appoint provisional liquidators and petitioned for its winding up.

"HSBC filed an application to the High Court of the Hong Kong Special Administrative Region to appoint provisional liquidators to two companies with operations in Hong Kong: China Fishery Group Ltd and China Fisheries International Ltd," a spokesman for the bank said in an emailed response.

"The bank has also petitioned for the winding up of these two companies," it added.

China Fishery and its parent, #Singapore-listed Pacific Andes Resources Development, are facing a probe by the Monetary Authority of Singapore and inspectors from the Commercial Affairs Department for an offence under the securities and futures act.

Their parent Pacific Andes International Holdings is facing an investigation by the Hong Kong securities regulator.

Trading in shares of three companies were halted on Thursday (Nov 26).

Shares of China Fishery have fallen 72 per cent so far this year.