Leading Spirit/China Digicontent fail to pay 88.377 mln hkd debt

HONG KONG (AFX-ASIA) - Leading Spirit High-Tech (Holdings) Co Ltd and China Digicontent Co Ltd said they failed to pay outstanding debts of about 88.377 mln hkd to ABSA Asia Ltd and Standard Chartered Bank.	    In a statement, the companies said both ABSA and Standard Chartered have the right to commence further legal proceedings which may involve a winding-up petition against the companies.	    In addition, Leading Spirit has received a statutory demand for payment of 32.51 mln usd from Deutsche Bank International Asia Ltd, to be paid by April 24.	    The companies said discussions on debt restructuring with its creditors have terminated but the two companies may consider proposals put forward by its creditors. 

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