Senior debtholders of Asia Aluminum, which makes aluminium extrusions in mainland China, will be able to realise a maximum of 16.91 cents on the dollar for their dues in the event the company is liquidated on an ongoing basis. For full story, click here
Asia Aluminum’s Chairman Kwong Wui Chun, who offered his shares to investors to win support for a restructuring plan and debt buyback offer, now plans to surprise bondholders into agreement. For full story, click here
Chan Yiu Tsan who was the deputy chairman of Asia Aluminum Holdings Limited and AA Investments Company Ltd has resigned both posts to pursue his own interests, the two companies said in a joint statement on Monday. For full story, click here
Investors in Asia Aluminum Holdings’ 8 percent bonds agreed to reject the company’s offer to buy back the notes at about a quarter of face value. For full story, click here
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