China’s Up Energy’s winding-up petition hearing adjourned to Sept. 26

By Caroline Salls

Pittsburgh, Aug. 24 – Up Energy Development Group Ltd. said a hearing related to its Hong Kong winding-up petition was adjourned to Sept. 26 from Aug. 22.

According to a news release, some major holders of Up’s convertible notes attended an informal creditors meeting on Aug. 15. That meeting was organized by the company and independent restructuring adviser RSM Hong Kong.

Trading in Up Energy’s shares on the Stock Exchange of Hong Kong Ltd. was suspended on June 30 and will remain suspended until further notice, the release said.

Based in Xinjiang, China, Up is an energy investment group.

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