China’s Top Wise announced court-appointed liquidators

Chicago, June 26 – Top Wise Excellence Enterprise Co., Ltd. has had provisional liquidators appointed for the company by the Eastern Caribbean Supreme Court in the British Virgin Islands, according to a company notice.

The appointees have powers to take over, supervise, direct and manage the affairs of the company.

Creditors of the company are invited to contact the provisional liquidators at topwise@fticonsulting.com.

The company has $300 million of 6% guaranteed senior notes due 2020 outstanding.

The notes are guaranteed by Kangde Xin Composite Material Group Co., Ltd.

Kangde defaulted on domestic commercial paper issued in 2018 that was due Jan. 15.

The company is a polymer material company with operations in China.

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