Pacific Andes Resources Development Limited announced on Sep, 2 2026 that the court-appointed Plan Administrator has completed the sale of a Hong Kong commercial office on Sep, 9 2025 and added the proceeds to the distribution pool for its confirmed Chapter 11 restructuring plan.

The Plan Administrator reported that liquidations of 22 Plan Debtors and four Non-Debtor Affiliates have concluded, with one remaining subsidiary now entering liquidation before the parent company itself can be wound up. The United States Bankruptcy Court in the Southern District of New York has approved the closing of individual Chapter 11 cases as each entity’s dissolution takes effect.

All required payments to holders of allowed Administrative Expense Claims have been completed. A single, final distribution will be made to the company’s bondholders once all residual assets are realised and outstanding claims resolved. Shareholders are not expected to receive any distribution under the plan.

Following completion of these steps, the company will be placed in liquidation and removed from the official list of the Singapore Exchange. Further announcements will be issued when material developments occur, including the timing of the final bondholder payment and the company’s eventual delisting.