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China Fishery Group Ltd (CNFG.SI)

CNFG.SI on Stock Exchange of Singapore

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Latest Key Developments (Source: Significant Developments)

Pacific Andes Resources Development updates on progress of proceedings under chapter 11
Monday, 5 Dec 2016 09:42pm EST 

Pacific Andes Resources Development Ltd : Updates to holders of S$200mln 8.50% bonds due 2017 on progress of proceedings under chapter 11 currently before NY Court . NY Court is jointly administering co's chapter 11 filing in conjunction with other 16 debtor entities within group . NY Court approved an order providing steps be taken before 1 dec to satisfy claims of creditors who had initiated restructuring proceedings in Peru ."It is company's view that these developments are positive for prospects for long term recovery by bondholders".  Full Article

China Fishery updates on chapter 11 and 15 proceedings before US bankruptcy court
Wednesday, 10 Aug 2016 06:35am EDT 

China Fishery Group Ltd : Update on chapter 11 and 15 proceedings before the US bankruptcy court) . On 9 August 2016, the club lender banks filed a motion seeking the appointment of a chapter 11 trustee . Refers to chapter 11 and 15 proceedings announced by the company on 1 July 2016 . Indicated to banks that have filed trustee motion that co intends to contest the motion so as to preserve value for all stakeholders of the group . Strongly believes that any action to facilitate equivalent of a "fire sale" of peruvian fishmeal business would not be best interests of all creditors . If a trustee is appointed by the court, the trustee would assume management of the chapter 11 debtors . Company considers that appointment of trustee would have a detrimental effect on the business and prospects . Evidentiary hearing of the trustee motion is scheduled to begin on 29 August, 2016 .  Full Article

China Fishery says restructuring proceedings commenced in Peru
Friday, 1 Jul 2016 04:57am EDT 

China Fishery Group Ltd : Proceedings in Peru have been commenced in respect of the key peruvian subsidiaries . Peruvian subsidiaries also voluntarily filed petitions with the United States bankruptcy court under chapter 15 of the United States bankruptcy code . It, with certain non- peruvian subsidiaries filed voluntary petitions for relief under chapter 11 of the United States bankruptcy code . Petitions to obtain protection of U.S. bankruptcy court while a consensual restructuring of key peruvian subsidiaries is being pursued .  Full Article

China Fishery Group Limited files for chapter 11 bankruptcy protection
Thursday, 30 Jun 2016 04:05pm EDT 

: China Fishery Group Limited files for Chapter 11 bankruptcy protection in southern district of New York- court filing .China Fishery Group Limited lists assets in range of $500 mln-$1 bln; lists liabilities in range of $10 mln-$50 mln- court filing.  Full Article

More From Around the Web

Fitch Revises China Fishery's Recovery Ratings to 'RR5' from 'RR4'

(The following statement was released by the rating agency) HONG KONG, February 28 (Fitch) Fitch Ratings has revised the Recovery Rating on China Fishery Group Limited's senior unsecured rating and the rating on the USD300m senior notes issued by its financing vehicle CFG Investment S.A.C. to 'RR5' from 'RR4'. The senior unsecured rating and rating on the notes are affirmed at 'C' and China Fishery's Issuer Default Rating (IDR) has been affirmed at 'D'. The revision of the Recovery Rating r