Hong Kong's Value Partners hopes to recoup Oasis investment despite liquidation
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Oasis Hong Kong
HONG KONG (XFN-ASIA) - A major investor in Hong Kong-based budget airline Oasis said it thought it would be able to recoup much of its investment despite the carrier announcing it was in liquidation.
Hong Kong-based asset management firm Value Partners said the airline's collapse would not have any significant impact on its business, despite its investment of 30 mln usd in Oasis last year.
"Value Partners.. and its subsidiaries is not a shareholder of Oasis Hong Kong Airlines," it said in a statement.
"The group's investment is in the form of a convertible bond. The group also has the protection of certain guarantees. The group believes the investment is well protected."
Value Partners said the failure of Oasis would be outweighed by the success of the other companies its funds had invested in.
Before Oasis chief executive Stephen Miller confirmed that the carrier had gone into liquidation, the spokeswoman for Value Partners, Teresa Yu, said the firm had been unable to contact the airline's management.
Miller told reporters the airline would stop operating flights immediately, stranding passengers in Hong Kong, London and Vancouver.
The Economic Times reported that Oasis was struggling under debts of up to 1 bln hkd.
(c) Centre for Asia Pacific Aviation. Date posted:10-Apr-08
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Hong Kong's Value Partners hopes to recoup Oasis investment despite liquidation 
