DIRECTORS of Kin Son Electronic (Holdings), whose chairman So Kin-keung disappeared in Shenzhen four weeks ago, have put the firm into liquidation.
Reports have variously claimed Mr So had been kidnapped by irate partners in a property deal which went awry, detained by Public Security Bureau officials or that he had simply run off.
On July 11, the company said it was seeking legal advice after it discovered Mr So had personally pledged shares in Kin Son as collateral for a $2 million loan from the People's Construction Bank of China.
Yesterday, a notice of provisional liquidation was posted at the main glass entrance of Kin Son's office at Hang Fung Industrial Building in Hunghom.
Although people were seen in the office in the morning, they apparently left in rear exits to avoid meeting any of the company's workers.
Although many of the firm's employees claim not to have been paid in four months and are filing claims with the Labour Department, it will be the banks which will probably get first call on any assets realised.