Hong Kong's High Court appointed liquidators for China Evergrande Group's (HKG:3333) unit, CEG Holdings (BVI), effective Sept. 12, as part of an ongoing winding-up petition against the unit filed by the company, according to a Friday filing with the Hong Kong bourse.
Edward Simon Middleton and Wing Sze Tiffany Wong, both of Alvarez & Marsal Asia, will be the joint and several provisional liquidators of the CEG Holdings.
CEG Holdings owns about 49.65% of the issued shares of Evergrande Property Services Group (HKG:6666), a member of the Evergrande Group and a listed company on the Stock Exchange.
The liquidators will ensure that the company's assets are preserved and can be used to benefit the creditors and other stakeholders.
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