ATV investor in new rescue plan to avoid liquidation as HK$88 million in wages and pensions hang in balance

Defunct broadcaster Asia Television's fate remains unknown as its current investor continued his bid to save the debt-stricken company from liquidation.

Mainland investor Si Rongbin, whose flagship firm China Culture Media has put ATV under its control, submitted a new rescue plan for ATV through another company, Star Platinum Enterprises Limited, the High Court heard on Tuesday.

Si's legal representative told the court that Star Platinum had already reached a preliminary agreement with ATV's former boss Wong Ching, who had filed a petition at the High Court to wind up the troubled firm to recoup his losses.