Ann: Premiere Eastern Energy receives winding up order, page-3

The $120 mil is working capital.

Iam sure the company have capacity to pay it, just they don't want to. There's bad blood between the bond holders and the owners.

anyway, NTA is currently 13 cents per share.. in any the event, shareholders should receive more than 2 cents in liquidation… remember the bondholders are watching this very closely, Directors cannot syphon the monies away as these bondholders are Singaporean Chinese, they know how the legal system work in China. Also, the owners are majority holders. They can steal from themselves and risk jail time, or they can wait to receive their fair share.

More than likely, I think the owner will cough up the money on the 11^th hour..