According to the announcement made by New City Hotel (08315) on the Zhitong Finance app, Mr. Fu Yilong, the former director and former controlling shareholder of the company, filed a winding-up petition against the company with the High Court of the Hong Kong Special Administrative Region on August 14, 2024. The petition is based on the alleged unpaid debt amount of HKD 8.9604 million, which includes the unpaid principal amount of HKD 7.95 million on promissory notes claimed to have been issued to the petitioner on May 6, 2016, and accrued interest of HKD 1.0104 million from July 31, 2023, to July 22, 2024. The hearing for the petition is scheduled for October 23, 2024 (Wednesday).