Summary by Futu AI
KEI FINANCIAL INTERNATIONAL (HOLDINGS) LIMITED (“KEEKI FINANCE”) ANNOUNCED ON 25 FEBRUARY 2024 THAT IT HAS FILED A LIQUIDATION PETITION WITH THE CAYMAN COURT FOR REASONS OF FINANCIAL RESTRUCTURING. The company faced dire financial circumstances, including creditor demands, internal board inconsistencies that led to the failure of the fundraising, and serious charges against Executive Director Chen Chia-chun. The Special Board of Directors proposed the appointment of a joint temporary liquidator to assist in dealing with financial difficulties and debt restructuring. The application was submitted on 23 February 2024 and will be heard on 19 April. In addition, the company received a Statutory Debt Statement in February requesting repayment of debts of HK$1 million and $750,000. KEI FINANCIAL ALSO RECEIVED A STATUTORY SOLVENCY STATEMENT FROM KEIGI FINANCE ON MARCH 1, REQUESTING THE REPAYMENT OF A LOAN OF HK$1,080,000. The company's shares were suspended on February 2 and are scheduled to resume trading on March 4. THE BOARD REMINDS SHAREHOLDERS AND POTENTIAL INVESTORS TO CONSIDER THE UNCERTAINTIES OF THE CAYMAN COURT PROCEEDINGS AND WILL CONTINUE TO UPDATE ON THE PROGRESS.