Shanghai: Following the failure of its first restructure plan, CSC Phoenix announced yesterday that it will start a second round of voting for the plan which is critical to the survival of the company.
The deadline for the second round of voting is February 20, and the company will count the votes the next day under the supervision of Wuhan Intermediate People’s Court and the chairman of the creditor’s committee.
CSC Phoenix said if the plan fail to pass again, the company will be declared bankrupt by the court and delisted from the stock exchange. [22/01/14]
CSC Phoenix’s first restructure plan fails