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Re: Renee post# 361

Monday, 09/17/2018 2:00:56 AM

Monday, September 17, 2018 2:00:56 AM

Post# of 368
Thanks for your suggestion and it may be that former shareholders need to collectively approach the liquidator.
As I understand it, the creditor’s voluntary liquidation of two subsidiaries was initiated by the board of directors to wind up two Hong Kong subsidiaries: https://www.sec.gov/Archives/edgar/data/1066961/000114420410034129/v188590_8k.htm
The Hong Kong court announced the deregistration of Infoscience Media Limited. (http://www.gld.gov.hk/egazette/pdf/20162017/egn201620172377.pdf)
This leaves Discobras in Brazil as a major subsidiary of IFSG which is embroiled in legal proceedings currently.
IFSG shares were revoked by the SEC but not cancelled, given the matter was considered under the jurisdiction of the Hong Kong court. The shares still exist in my shareholder account. For revoking of shares from the public exchange by the SEC, does this ensure the company ownership become fixed?
For any available distribution after creditors are paid, who claims possible liquidation value instead of former equity holders (the majority of which were former management and who initiated the liquidation of the Hong Kong subsidiaries)? Surely this would require a public announcement to shareholders?
The liquidator did not update the Hong Kong court and it is not within their capacity to act since it is a creditor's voluntary liquidation (process V10/67/2010). The liquidator also did not update shareholders and was presumably appointed by the creditors.

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