ATV staff await court decision to learn the fate of their jobs

Asia Television staff expecting their troubled station to close down on Tuesday were told they would have to wait until Thursday for a court to decide whether liquidators can go ahead with plans to sack everyone.

The last-minute drama continued as ATV’s main investor offered to pay HK$3 million to ensure 120 staff still willing to stay could carry on working until the end of this month, when the broadcaster’s licence expires.

But court-appointed provisional liquidators from accounting firm Deloitte said ATV would need at least HK$25 million to keep going for that long.

At an emergency hearing on Tuesday afternoon, High Court judge Mr Justice Jonathan Harris extended the suspension of Deloitte’s bid to shut down the station for two more days, responding to ATV’s petition.

The provisional liquidators could not take any action that would result in the broadcaster halting operations before the court heard the case again at 10am on Thursday, Harris said.

He urged them to work out a viable plan with ATV main investor Si Rongbin and major creditor Wong Ching, who wants the company liquidated to cover his losses from an incomplete deal with Si.

“The court is not going to negotiate a deal for you. I will just approve or disapprove,” the judge said.