Paul Hastings Advises on Z-Obee Restructuring
Hong Kong – Paul Hastings LLP, a leading global law firm, announced today that it is advising Alpha Professional Development Limited (“Alpha”) as the sole investor in the proposed restructuring of the Hong Kong and Singapore listed company Z-Obee Holdings Limited (Provisional Liquidators Appointed) (“Z-Obee”), which is principally engaged in the provision of mobile handset design and production solution services and marketing and distribution of mobile handset and its components.
The proposed restructuring involves, among others, schemes of arrangement, capital reorganisation, share subscription, open offer, provision of working capital loan and loan facility, and the engagement of a new management team.
Alpha will provide business, management and financial support to Z-Obee, and will inject further capital through the share subscription and by acting as the underwriter for the open offer.
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