Deputy chairman of SunMoon Food Company Gary Loh sold more than $78,000 worth of shares in the company on Oct 8 and Oct 9. That leaves him with just over 60.3 million shares, or a 7.69% stake, in the food supply chain manager.

Loh sold via an entity called First Alverstone Capital, which he controls jointly with his wife Selena Cheng Koh Min. The sales were disclosed in a Singapore Exchange filing on Oct 10.

Two days after the sales, SunMoon Food announced that Shanghai Yiguo E-Commerce, ultimate parent company of SunMoon Food’s controlling shareholder, had filed for voluntary bankruptcy reorganisation in China on July 30, which was more than two months ago.

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