Key Points
Creditors in three cases, including Sinic Holdings Group Co. and Yango Justice International Ltd., havent seen any significant distribution, they said, declining to be identified discussing private matters...
Sinics case stalled, for example, after representatives from Kroll Ltd. didnt land funding for an investigation to recover the financial books, the people said..
In Hong Kong, liquidators are paid from asset sales, and only turn to creditors and other lenders when the money runs out, according to a note by law firm Dentons Hong Kong LLP...
The team seized a small amount of cash in the companys offshore account, but the funds were barely sufficient to cover administrative fees, they said.. Earlier this month, Jiayuan International Group Ltd. said in a filing that its liquidators didnt get a loan from an investor to fund the case..
While its true that some creditors in liquidation cases like Sinic, Yango, and Jiayuan have yet to see significant distributions, its important to note that the liquidation process can vary considerably from case to case, Deloitte said in an email in response to questions..
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