Deals
Unreachable Huishan Executive Exposes China Debt, Bank Risks
- Dairy company says stressed-out treasurer can’t be contacted
- Huishan targeted by Carson Block’s Muddy Waters in December
Huishan Dairy Doesn't Believe Funds Were Misappropriated
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An unreachable corporate treasurer. An emergency meeting with creditors. A $4.1 billion stock collapse. And a vindicated short seller.
All that and more converged in a remarkable week for China Huishan Dairy Holdings Co., a milk producer with outsized ambitions that may turn into the country’s latest poster child for weak corporate governance, the dangers of leverage and the potential for financial shocks.