China Ocean Group Development Ltd. has announced an update regarding the winding up petition against the company. Following previous announcements, the company has deposited HK$5.45 million into the account of its legal representative, aiming to facilitate the withdrawal of the petition. The company plans to request the petitioner to withdraw the petition at a hearing on May 26, 2025. This process will involve administrative procedures such as filing a consent summons to the High Court. China Ocean Group Development Ltd. has committed to keeping the public informed of any significant developments related to the petition.
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