Apple Daily could close “in days” after the freeze on Hong Kong assets News about press freedom

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The company adviser says the action under the security law means it cannot access about $ 50 million in funds to pay staff and vendors.

Hong Kong’s pro-democracy newspaper Apple Daily will be forced to close “in a matter of days” after authorities used China’s national security law to freeze the company’s assets while arresting the publisher. newspaper and four other directors, a prison adviser. mogul Jimmy Lai told Reuters on Monday.

Mark Simon, speaking by telephone from the United States, said the company could no longer access its funds and would hold a board meeting on Monday to discuss how to move forward.

“We thought we could get to the end of the month,” Simon told the news agency. “It’s getting harder and harder. It’s basically a matter of days. “

Closures to his comments are imminent even after Apple Daily said Sunday that the freeze on its assets had left the newspaper with cash for “a few weeks” for normal operations.

The news comes two days after editor Ryan Law, 47, and chief executive Cheung Kim-hung, 59, were released on bail after being charged under the security law for collusion with forces. foreigners.

Apple Daily editor Ryan Law returns to the detention center after he was arrested on Saturday [Lam Yik/Reuters]

Three other senior executives were also arrested last Thursday 500 police officers stormed the newspaper’s offices in a case that has been condemned by Western nations, human rights groups and the United Nations ’chief human rights spokesman.

All three have been released on bail.

Simon told Reuters it had become impossible to conduct banking.

“The sellers tried to deposit money in our accounts and were rejected. We can’t make banks. Some vendors tried to do it as a favor. We just wanted to find out and he was rejected, ”he said.

In earlier statements to US news channel CNN, Simon said the company had about $ 50 million available, but was unable to access the funds.

The publisher has been under increasing pressure since last August its owner Jimmy Lai was arrested under national security law, which was the first time the company’s headquarters were raided. Lai, 73, is jailed and being prosecuted under national security law. In May, the authorities too froze some assets belonging to the long-time Beijing critic has also frozen some of its assets.

Three Apple Daily-related companies are also being prosecuted for collusion with a foreign country and authorities have frozen A $ 18 million ($ 2.3 million) of their assets.

China imposed national security law in Hong Kong last June saying it was necessary to restore “stability” to a territory that had been shaken by mass protests in 2019, some of which turned violent.

He broad text law criminalizes acts such as subversion, sedition, collusion with foreign forces, and secession with a possible life sentence, but critics have said it is used to suppress legitimate political debate with dozens of pro-democracy politicians and activists among the most of 100 detainees since it was enacted.





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