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Article: AMOI ELECTRONICS TO UNDERGO REORGANIZATION
- Article from:
- AsiaInfo Services
- Article date:
- September 21, 2009
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AsiaInfo Services
09-21-2009
Amoi Electronics to Undergo Reorganization
XIAMEN, Sep 21, 2009 (SinoCast Daily Business Beat via COMTEX) -- Amoi Electronics Co., Ltd. (SHSE: 600057), a once-dominant mobile phone maker in China, has lately been restructuring itself. The company said yesterday in a statement that it was required by a court ruling to do so at a time when it is burdened by heavy debts.
On August 18, its creditor Xiamen Torch Group Co., Ltd. filed a lawsuit to the intermediate court in the city of Xiamen, Fujian Province, claiming for the recapitalization of Amoi Electronics because it is unable to pay its due debts and its assets cannot clear off the debts or lack solvency.
The ...