KXD Digital Entertainment's liquidators in talks on potential restructuring of firm

THE liquidator of KXD Digital Entertainment announced on Monday that it is liaising with several parties in relation to the potential restructuring of the company.

The liquidator said that there is no certainty or assurance that a restructuring will actually happen, or that the company will be able to comply with the requirements that will be imposed by the Singapore Exchange.

In May last year, KXD directors made an application to the High Court for a winding-up order of the firm, as it was unable to pay its debts.

The board proposed that Mr Steven Yit Chee Wah of FTI Consulting be appointed liquidator of the firm.

The China-based maker of DVD players, speakers and MP3 players has been mired in accusations of wrongdoing amid troubled finances and crippling lawsuits.

Its shares last traded in May 2010 at one cent apiece.