SeaDragon shareholders back $4M injection to stave off liquidation

Fri, 17 May 2019

By Rebecca Howard May 17 (BusinessDesk) - SeaDragon has managed to stave off possible receivership or liquidation after shareholders backed resolutions to allow a $4 million cash injection. "Management’s current estimates have SeaDragon unlikely to pay its debts as they fall due sometime during July this year unless a capital injection is provided," the company said in the notice of today's special meeting. In that event, the "directors will have no option but to place the company into receivership or liquidation." The interdependent...

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