Core Viewpoint - The company, South China City (01668), is in the process of negotiating key terms for a comprehensive debt restructuring with several major creditors and stakeholders, having signed confidentiality agreements to facilitate these discussions [1] Group 1: Debt Restructuring Process - The liquidators believe that maintaining the company's listing status is crucial for the success of the overall debt restructuring [1] - The company must remedy the issues that led to the suspension of trading, meet the resumption guidelines, and fully comply with listing rules to regain trading status within 18 months from the suspension date, which expires on February 10, 2027 [1] - The liquidators are under pressure to quickly determine if there is sufficient support from creditors and stakeholders to advance the debt restructuring [1] Group 2: Proposed Timeline and Conditions - The proposed timeline for the overall debt restructuring is influenced by several factors, including the need to submit a debt repayment arrangement under the Companies Ordinance (Chapter 622) Section 670 [1] - The preparation, initiation, and completion of the plan are expected to take at least six to nine months [1] - The liquidators will assess the feasibility of the debt restructuring based on the number of creditors signing the restructuring support agreement and the amount of debt they hold, requiring at least 75% support from creditors present at meetings to be court-approved [1] Group 3: Impact of Listing Status - The liquidators anticipate that if the company's listing status is canceled, the willingness of creditors and stakeholders to support the debt restructuring will significantly decrease [1] - If the overall debt restructuring is not completed before the resumption guidelines deadline, the restructuring plan will no longer be viable [1]
华南城(01668)公布债务重组时间表 须于2027年2月10日前复牌保上市地位