By Michael Susin
UniVision Engineering said it has received a petition from one of its subcontractors to wind up the company in relation to outstanding debts of around 194,473 pounds ($242,877) in the High Court in Hong Kong.
The Hong Kong-based supplier of closed-circuit television and surveillance systems said Thursday that the petition comes from E-Star Engineering Company, regarding the debt which remains unpaid.
The company said it will negotiate with E-Star and intends to defend and oppose the petition.
“The board remains in negotiations with potential investors who are looking to make a substantial investment in the company and it is satisfied that the company will be able to meet the petition should this be necessary,” it added.
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