CORRECTED-UPDATE 2-Cement firm default shows China more willing to let firms fail

* Firms says default certain for repayments on $500 mln 2020bonds

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BRIEF-Bioscience Brands says liquidators proceeding with winding up of co

* Liquidators are accordingly proceeding with winding up ofco in absence of any other alternatives being presented forconsideration and co's shares accordingly remain suspended onjse

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CORRECTED-Amid China slowdown, foreign creditors face bankruptcy riddle

HONG KONG, May 18 (Reuters) - As China's economy slows andBeijing becomes more relaxed about letting its companies fail, arising number of foreign bondholders risk being caught up in thecountry's.

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