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China Medical Slumps After Bondholders Ask for Liquidation

China Medical Technologies Inc. posted the biggest two-day drop since April in New York after Stroock & Stroock & Lavan LLP said bondholders of the Beijing-based medical device company filed a petition for liquidation.

American depositary receipts of China Medical traded on the U.S. over-the-counter market dropped 8.6 percent to $4.65 in New York yesterday, after tumbling 14 percent on June 15.