First Growth files for voluntary bankruptcy
FIRST GROWTH Holdings Ltd. has filed voluntary assignments in bankruptcy for both the company and its subsidiary in Alberta, pursuant to the Bankruptcy and Insolvency Act (Canada), in order to effect an orderly liquidation of its assets, property and operations. In conjunction with this filing, Crowe MacKay & Company Ltd., licensed insolvency trustee, has been appointed trustee of the bankrupt estate.
The board of directors of the company has authorized the voluntary assignment as the company is not able to meet the obligations owing to its creditors or to finance the operations of the company or its subsidiaries. Also, the board of directors of the subsidiary in Alberta has authorized the voluntary assignment.
The company also announced that Ting Z ha oh as resigned as chief executive officer and stops serving as the interim acting chief financial officer, effective immediately; the directors of the company (except Ms. Zhao) have handed in their resignations; the employment of the company has been terminated, and the employment of the subsidiary in Alberta will be terminated shortly.
Any inquires with respect to the operations of the company or its assets can be made to Crowe Mackay at Suite 1100, 1177 W Hastings St., Vancouver, B.C., V6E 4T5, attention: Derek Lai, CPA, CMA, CIRP, LIT.
About First Growth Holdings Ltd.
First Growth is a Canadian-base d company that identifies and develops strong brands in the Canadian and international markets. First Growth’s brands have a global reach in today’s modern world with the rapid adoption of social media and advancements in technology.
Xuekang Dai, Cainian Tan, Ting Zhao
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