ATV investor in new rescue plan to avoid liquidation as HK$88 million in wages and pensions hang in balance
Details sketchy and former staff still concerned they won’t be paid
Defunct broadcaster Asia Television's fate remains unknown as its current investor continued his bid to save the debt-stricken company from liquidation.
Mainland investor Si Rongbin, whose flagship firm China Culture Media has put ATV under its control, submitted a new rescue plan for ATV through another company, Star Platinum Enterprises Limited, the High Court heard on Tuesday.
Si's legal representative told the court that Star Platinum had already reached a preliminary agreement with ATV's former boss Wong Ching, who had filed a petition at the High Court to wind up the troubled firm to recoup his losses.
Star Platinum would need more time to finalise the details with Wong, the court heard.
But Si's lawyer did not reveal in court whether the latest proposal was significantly different from China Culture Media's previous plans to save ATV.
