{"id":401851,"date":"2020-12-17T08:48:22","date_gmt":"2020-12-17T13:48:22","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=401851"},"modified":"2020-12-17T08:48:22","modified_gmt":"2020-12-17T13:48:22","slug":"luckin-coffee-comments-on-joint-provisional-liquidators-first-report-provided-to-the-grand-court-of-the-cayman-islands","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/luckin-coffee-comments-on-joint-provisional-liquidators-first-report-provided-to-the-grand-court-of-the-cayman-islands\/","title":{"rendered":"Luckin Coffee Comments on Joint Provisional Liquidators\u2019 First Report Provided to the Grand Court of the Cayman Islands"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"left\">BEIJING, Dec.  17, 2020  (GLOBE NEWSWIRE) &#8212; Luckin Coffee Inc. (the \u201cCompany\u201d) (OTC:LKNCY) today commented on the first report (\u201cReport\u201d) provided by Alexander Lawson of Alvarez &amp; Marsal Cayman Islands Limited and Wing Sze Tiffany Wong of Alvarez &amp; Marsal Asia Limited, who were appointed as the Joint Provisional Liquidators (\u201cJPLs\u201d) of the Company by the Grand Court of the Cayman Islands (the \u201cCayman Court\u201d) on July 15, 2020. The JPLs furnished the Report to the Cayman Court in order to provide an update on the progress of the Company\u2019s restructuring.<\/p>\n<p>The Company commented:<\/p>\n<blockquote>\n<p>\u201cWe are pleased that, following an extensive review of the Company\u2019s operations and financial position, the JPLs, in conjunction with the Company, have developed a detailed and viable restructuring proposal of the Company\u2019s indebtedness, with a view to the restructuring being presented by way of one or more schemes of arrangements before the Cayman Islands court. The proposal has been developed for the benefit of all stakeholders.\u201d<\/p>\n<\/blockquote>\n<p>A copy of the JPLs Report is available on the Company\u2019s Investor Relations website (investor.luckincoffee.com).<\/p>\n<p>\n        <strong>Safe Harbor Statement<\/strong>\n      <\/p>\n<p>This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the \u201csafe harbor\u201d provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as \u201cwill,\u201d \u201cexpects,\u201d \u201canticipates,\u201d \u201cfuture,\u201d \u201cintends,\u201d \u201cplans,\u201d \u201cbelieves,\u201d \u201cestimates,\u201d \u201cpotential,\u201d \u201ccontinue,\u201d \u201congoing,\u201d \u201ctargets,\u201d \u201cguidance\u201d and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the \u201cSEC\u201d), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties, including Joint Provisional Liquidators. Any statements that are not historical facts, including statements about the Company\u2019s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the expense, timing and outcome of existing or future legal and governmental proceedings, investigations in connection with the Company; the outcome and effect of the ongoing restructuring of the Company\u2019s financial obligations; the Company\u2019s growth strategies; its future business development, results of operations and financial condition; the effect of the non-reliance identified in, and the resultant restatement of, certain of the Company\u2019s previously issued financial results; the effectiveness of its internal control; its ability to retain and attract its customers; its ability to maintain and enhance the recognition and reputation of its brand; its ability to maintain and improve quality control policies and measures; its ability to establish and maintain relationships with its suppliers and business partners; trends and competition in China&#8217;s coffee industry or China&#8217;s food and beverage sector in general; changes in its revenues and certain cost or expense items; the expected growth of China&#8217;s coffee industry or China&#8217;s food and beverage sector in general; PRC governmental policies and regulations relating to the Company\u2019s industry; the potential effects of COVID-19; and general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in the Company\u2019s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.<\/p>\n<p>\n        <strong>About Luckin Coffee Inc.<\/strong>\n      <\/p>\n<p>Luckin Coffee Inc.\u00a0(OTC:LKNCY) has pioneered a technology-driven retail network to provide coffee and other products of high quality, high affordability, and high convenience to customers. Empowered by big data analytics, AI, and proprietary technologies, the Company pursues its mission to be part of everyone\u2019s everyday life, starting with coffee. The Company was founded in 2017 and is based in\u00a0China. For more information, please visit investor.luckincoffee.com.<\/p>\n<p>\n        <strong>Investor and Media Contacts<\/strong>\n      <\/p>\n<p>\n        <strong>Investor Relations:<\/strong>\n      <\/p>\n<p>Luckin Coffee Inc. IR<br \/>Email:\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=tTbL92WapXb2F0p4KMvxKXo2Y-NSOiO3suiLqi3oxw50tyzy8wtpqcBBao8OL5jD6PnK8nUeSAxtYiECdUljn_zl2v7_yXnGK7l3IgpJSts=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">ir@luckincoffee.com<\/a>\u00a0<\/p>\n<p>Bill Zima \/ Fitzhugh Taylor<br \/>ICR,\u00a0Inc.<br \/>Phone: +1 646 880 9039<\/p>\n<p>\n        <strong>Media Relations:<\/strong>\n      <\/p>\n<p>Luckin Coffee Inc. PR<br \/>Email:\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=AkdRVX62QQIwCYSLLpMUi_Wn0W0d1yZ0dAj2QotYChe5Au9uB89RVspxMn8xmV7ZSmRVp5hz7AY7v3SNtY61x_SAF1_X-fRbVo76yZ6V434=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">pr@luckincoffee.com<\/a><\/p>\n<p>Ed Trissel \/ Jack Kelleher<br \/>Joele Frank, Wilkinson Brimmer Katcher<br \/>Phone: 212 355 4449<br \/>\u00a0\u00a0\u00a0 \u00a0<\/p>\n<p>\n        \n      <\/p>\n<p \/>\n<p \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExNDA4NSMzODg2MjcwIzIxNzczMzI=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/7f93d739-2472-4c19-9db1-2c6c60e61304\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>BEIJING, Dec. 17, 2020 (GLOBE NEWSWIRE) &#8212; Luckin Coffee Inc. (the \u201cCompany\u201d) (OTC:LKNCY) today commented on the first report (\u201cReport\u201d) provided by Alexander Lawson of Alvarez &amp; Marsal Cayman Islands Limited and Wing Sze Tiffany Wong of Alvarez &amp; Marsal Asia Limited, who were appointed as the Joint Provisional Liquidators (\u201cJPLs\u201d) of the Company by the Grand Court of the Cayman Islands (the \u201cCayman Court\u201d) on July 15, 2020. The JPLs furnished the Report to the Cayman Court in order to provide an update on the progress of the Company\u2019s restructuring. The Company commented: \u201cWe are pleased that, following an extensive review of the Company\u2019s operations and financial position, the JPLs, in conjunction with the Company, have developed a detailed &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/luckin-coffee-comments-on-joint-provisional-liquidators-first-report-provided-to-the-grand-court-of-the-cayman-islands\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Luckin Coffee Comments on Joint Provisional Liquidators\u2019 First Report Provided to the Grand Court of the Cayman Islands&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-401851","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Luckin Coffee Comments on Joint Provisional Liquidators\u2019 First Report Provided to the Grand Court of the Cayman Islands - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/luckin-coffee-comments-on-joint-provisional-liquidators-first-report-provided-to-the-grand-court-of-the-cayman-islands\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Luckin Coffee Comments on Joint Provisional Liquidators\u2019 First Report Provided to the Grand Court of the Cayman Islands - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"BEIJING, Dec. 17, 2020 (GLOBE NEWSWIRE) &#8212; Luckin Coffee Inc. (the \u201cCompany\u201d) (OTC:LKNCY) today commented on the first report (\u201cReport\u201d) provided by Alexander Lawson of Alvarez &amp; Marsal Cayman Islands Limited and Wing Sze Tiffany Wong of Alvarez &amp; Marsal Asia Limited, who were appointed as the Joint Provisional Liquidators (\u201cJPLs\u201d) of the Company by the Grand Court of the Cayman Islands (the \u201cCayman Court\u201d) on July 15, 2020. The JPLs furnished the Report to the Cayman Court in order to provide an update on the progress of the Company\u2019s restructuring. The Company commented: \u201cWe are pleased that, following an extensive review of the Company\u2019s operations and financial position, the JPLs, in conjunction with the Company, have developed a detailed &hellip; Continue reading &quot;Luckin Coffee Comments on Joint Provisional Liquidators\u2019 First Report Provided to the Grand Court of the Cayman Islands&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/luckin-coffee-comments-on-joint-provisional-liquidators-first-report-provided-to-the-grand-court-of-the-cayman-islands\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-17T13:48:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExNDA4NSMzODg2MjcwIzIxNzczMzI=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/luckin-coffee-comments-on-joint-provisional-liquidators-first-report-provided-to-the-grand-court-of-the-cayman-islands\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/luckin-coffee-comments-on-joint-provisional-liquidators-first-report-provided-to-the-grand-court-of-the-cayman-islands\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Luckin Coffee Comments on Joint Provisional Liquidators\u2019 First Report Provided to the Grand Court of the Cayman Islands\",\"datePublished\":\"2020-12-17T13:48:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/luckin-coffee-comments-on-joint-provisional-liquidators-first-report-provided-to-the-grand-court-of-the-cayman-islands\\\/\"},\"wordCount\":733,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/luckin-coffee-comments-on-joint-provisional-liquidators-first-report-provided-to-the-grand-court-of-the-cayman-islands\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODExNDA4NSMzODg2MjcwIzIxNzczMzI=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/luckin-coffee-comments-on-joint-provisional-liquidators-first-report-provided-to-the-grand-court-of-the-cayman-islands\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/luckin-coffee-comments-on-joint-provisional-liquidators-first-report-provided-to-the-grand-court-of-the-cayman-islands\\\/\",\"name\":\"Luckin Coffee Comments on Joint Provisional Liquidators\u2019 First Report Provided to the Grand Court of the Cayman Islands - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/luckin-coffee-comments-on-joint-provisional-liquidators-first-report-provided-to-the-grand-court-of-the-cayman-islands\/","og_locale":"en_US","og_type":"article","og_title":"Luckin Coffee Comments on Joint Provisional Liquidators\u2019 First Report Provided to the Grand Court of the Cayman Islands - Market Newsdesk","og_description":"BEIJING, Dec. 17, 2020 (GLOBE NEWSWIRE) &#8212; Luckin Coffee Inc. (the \u201cCompany\u201d) (OTC:LKNCY) today commented on the first report (\u201cReport\u201d) provided by Alexander Lawson of Alvarez &amp; Marsal Cayman Islands Limited and Wing Sze Tiffany Wong of Alvarez &amp; Marsal Asia Limited, who were appointed as the Joint Provisional Liquidators (\u201cJPLs\u201d) of the Company by the Grand Court of the Cayman Islands (the \u201cCayman Court\u201d) on July 15, 2020. The JPLs furnished the Report to the Cayman Court in order to provide an update on the progress of the Company\u2019s restructuring. The Company commented: \u201cWe are pleased that, following an extensive review of the Company\u2019s operations and financial position, the JPLs, in conjunction with the Company, have developed a detailed &hellip; Continue reading \"Luckin Coffee Comments on Joint Provisional Liquidators\u2019 First Report Provided to the Grand Court of the Cayman Islands\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/luckin-coffee-comments-on-joint-provisional-liquidators-first-report-provided-to-the-grand-court-of-the-cayman-islands\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-17T13:48:22+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExNDA4NSMzODg2MjcwIzIxNzczMzI=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/luckin-coffee-comments-on-joint-provisional-liquidators-first-report-provided-to-the-grand-court-of-the-cayman-islands\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/luckin-coffee-comments-on-joint-provisional-liquidators-first-report-provided-to-the-grand-court-of-the-cayman-islands\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Luckin Coffee Comments on Joint Provisional Liquidators\u2019 First Report Provided to the Grand Court of the Cayman Islands","datePublished":"2020-12-17T13:48:22+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/luckin-coffee-comments-on-joint-provisional-liquidators-first-report-provided-to-the-grand-court-of-the-cayman-islands\/"},"wordCount":733,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/luckin-coffee-comments-on-joint-provisional-liquidators-first-report-provided-to-the-grand-court-of-the-cayman-islands\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExNDA4NSMzODg2MjcwIzIxNzczMzI=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/luckin-coffee-comments-on-joint-provisional-liquidators-first-report-provided-to-the-grand-court-of-the-cayman-islands\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/luckin-coffee-comments-on-joint-provisional-liquidators-first-report-provided-to-the-grand-court-of-the-cayman-islands\/","name":"Luckin Coffee Comments on Joint Provisional Liquidators\u2019 First Report Provided to the Grand Court of the Cayman Islands - 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