CHK OIL (00632) has announced that it received a statutory demand dated October 12, 2026, issued by legal counsel acting on behalf of Vulcan Inovação (Macau) Consultoria Limitada (the "Creditor") under Section 178(1)(a) or Section 327(4)(a) of the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Chapter 32 of the Laws of Hong Kong), demanding payment of a total of HK$1.05 million, representing unpaid remuneration the Creditor claims to have provided services to the company.
The statutory demand required the company to pay the alleged debt within three weeks from the date of service, failing which the Creditor could present a winding-up petition against the company. On November 2, 2026, the company filed an originating summons with the High Court of the Hong Kong Special Administrative Region seeking an injunction against the Creditor to restrain it from presenting a winding-up petition against the company based on the statutory demand, as well as a summons to convene the parties seeking an interim injunction and an interim-interim injunction against the Creditor to restrain it from presenting a winding-up petition against the company based on the statutory demand until the originating summons and the summons to convene the parties are finally determined.
The first hearing of the summons to convene the parties has been scheduled for November 6, 2026, at 9:30 a.m. To the best of the directors' knowledge, information, and belief, the Creditor is ultimately controlled by the father of Huang Huisi, a former executive director of the company. The Creditor is a company incorporated in Macau and claims to be a consultancy firm providing market research services.
The company considers that the alleged debt amount is questionable and is actively taking measures to verify its accuracy. At the same time, the company is seeking legal advice and will actively consider actions it may take against the Creditor.
Comments