Subsidiary of India’s Mayar conglomerate wound up in Hong Kong
Adoniss Limited is a Hong Kong-based lumber wholesaler within India's Mayar Group (Credit: Shutterstock.com/AlexAnder)
A lumber merchant that is part of India’s Mayar Group conglomerate has been wound up in Hong Kong and its director declared bankrupt, after they failed to convince a local judge that settlement talks with lenders provided an estoppel defence against both petitions.
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