Summary by Futu AI
JiaZhaoyi Group Holdings Limited (the “Company”) announced on 8 March 2024 that the High Court has approved Citibank International Limited (the “Alternate Petitioner”) as the Petitioner to replace it and to allow the submission and delivery of the Petition for Revision against the Company. The Petition involves $750 million in outstanding principal and accrued interest on the Company's 10.875% Notes due 2023. The hearing on the revised petition has been adjourned until 29 April 2024, and the application for withdrawal of the original petition has been rejected. The Company reminds security holders and potential investors to exercise caution when buying and selling the Company's securities.