Examples of Assigned Debt in a sentence
For illustrative purpose, having taken into account of the interests accrued in the debts to the Creditors as at 30 June 2024, the latest rate of recovery to the Creditors is estimated to be around 33.00% and thus, the recovery amount of the Assigned Debt will be in the amount of HK$12.83 million as at 30 June 2024.
The Company is in the process of executing the debt restructuring under the Proposed Restructuring and is considered to be impracticable for it to settle the full outstanding amount of the Assigned Debt to Xx. Xxx.
In respect of the Assigned Shares and the Assigned Debt Due to the Assignment, Xx. Xxx had replaced Maxx Capital as the ultimate beneficial owner of the Assigned Shares and the creditor of the Company as the beneficial owner of the Assigned Debt which was arise from the HK$25 million settlement amount due by the Company to Maxx Capital under the 2022 Settlement Deed.
Having understood that a full recovery of the Assigned Debt from the Company will be unlikely and with the aim for more returns in the long run, Xx. Xxx was willing to accept a discount given that he had also enjoyed a discount in his consideration to Maxx Capital under the Transfer Agreement.
The Assigned Debt, based on the Company’s calculation, including interests, is amounted to be approximately HK$39.17 million as at 30 June 2024.