A surveillance camera is seen near an Apple Daily sign at Next Digital Ltd building in Hong KongHONG KONG -
In a filing to the Hong Kong bourse late on Sunday, Next Digital said the best interests of shareholders, creditors, employees and other stakeholders will be served by an orderly liquidation. Next Digital said it hoped the resignations of the remaining board members will result in liquidators being allowed by the Hong Kong government to authorize payments that directors were banned from approving, including for creditors and for former staff.
"We observe that the events affecting the company and its people following the invocation of the National Security Law occurred despite there having been no trials and no convictions," it said. "Under this new law, a company can be forced into liquidation without the involvement of the courts.