November 1, 2017 / 3:11 PM / a year ago

BRIEF-China Huishan Dairy updates on debt restructuring proposals

Nov 1 (Reuters) - China Huishan Dairy Holdings Company Ltd :

* Informed by Yang Kai that more than half PRC creditors of group signed agreement to support overall debt restructuring​

* On track to have positive cash flow on monthly basis from normal operating activities by 31 March 2018‍​

* Under agreement, board of new co to discuss with offshore creditors of group and YK Entities on restructuring of offshore debts​

* Under agreement, some/all of co’s PRC units and YK Entities to be injected into holding co in PRC owned by onshore creditors​

* Informed by Yang Kai that Champ Harvest was served by its creditor with application for commencement of liquidation proceedings​ Source text for Eikon: Further company coverage:

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