Huawei withdraws injunction

Huawei Technologies (Cambodia) Co agreed yesterday to withdraw its injunction against Mfone in order to pave the way for a court-appointed administrator to sell the bankrupt company’s assets and compensate its many creditors. … Along with other creditors, Huawei representatives expressed concerns that the assets would be sold below market price. … Paul M Tithyasak, senior finance adviser to the administrator, said Mfone’s total assets are worth about $107 million. Among those assets are 1,037 base station towers that cost about $100,000 each. …

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