Borrelli Walsh (Cayman) Limited announces VisionChina Media Inc placed in Liquidation and Delisting Shares
GRAND CAYMAN, Cayman Islands, March 15, 2017 (GLOBE NEWSWIRE) -- The following news is being issued by Borrelli Walsh (Cayman) Limited, representatives of VisionChina Media Inc (NASDAQ:VISIN) (?Company?) ? the Company announces today that by order of the Grand Court made on 2 March 2017, Margot MacInnis of Borrelli Walsh (Cayman) Limited, G/F Harbour Place, 103 South Church Street, George Town, Grand Cayman, Cayman Islands and Cosimo Borrelli of Borrelli Walsh Limited of Level 17, Tower 1, Admiralty Centre, 18 Harcourt Road, Hong Kong have been appointed as joint official liquidators of the Company (?Liquidators?).
Further, pursuant to Section 99 of the Companies Law (2016 Revision) of the Cayman Islands, once a winding up order has been made, any transfers of the Company's shares made after the commencement of the winding up is void, unless the Grand Court otherwise orders. Subsequent to the Grand Court's order on 2 March 2017, the trading of the Company's shares on the Nasdaq Stock Market has been suspended and the Liquidators are in the process of delisting its securities.
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