Pacific Challenge said court order against co lifted; to proceed with jv

HONG KONG (AFX-ASIA) - Pacific Challenge Holdings Ltd said it has successfully sought the lifting of a court order made against the company by its substantial shareholder, Kistefos Investment A.S.

	    In a statement, the company said Kistefos had obtained the court order barring the company and its subsidiaries from making payments out of its assets, incurring liabilities or making any payments for its proposed 

joint-venture to set up a private, direct investment company.

	    Following the lifting of the court order, the company's operations have been reinstated and it will proceed with the completion of the joint-venture, the statement said.

	    Pacific Challenge is seeking the resumption of trading in its shares today.

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