Pacific Andes, China Fishery add several units to bankruptcy cases

By Caroline Salls

Pittsburgh, May 5 – Pacific Andes International Holdings Ltd. and its Pacific Andes Resources Development Ltd. and China Fishery Group Ltd. subsidiaries announced that several companies had been added to the Chapter 11 bankruptcy proceedings in the U.S. Bankruptcy Court for the Southern District of New York.

Pacific Andes International said it filed a petition for direct wholly owned subsidiary Clamford Holding Ltd. on May 3.

On the same date, Pacific Andes Resources filed a petition for indirect subsidiary Natprop Investments Ltd.

Also on May 3, China Fishery filed petitions for indirect subsidiaries Grand Success Investment (Singapore) Private Ltd., Chiksano Management Ltd., Hill Cosmos International Ltd., Gain Star Management Ltd., Admired Agents Ltd., Toyama Holdings Ltd., Excel Concept Ltd., Loyal Mark Holdings Ltd., Metro Island International Ltd., Mission Excel International Ltd., Superb Choice International Ltd., Sea Capital International Ltd., Pioneer Logistics Ltd. and Shine Bright Management Ltd.

As previously reported, the company “continuously keeps under review the subsidiaries which should appropriately file” in an effort to bring as many of the group’s creditors as possible into a single forum for an effective group-wide restructuring.

Hong Kong’s Pacific Andes provides a range of at-sea transportation and logistical services to fishing companies and also operates fishing fleets and fishmeal processing facilities in the Pacific region. The company filed for bankruptcy on June 30, 2016 under Chapter 11 case number 16-11890.

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