Dongbei special steel officially entered bankruptcy reorganization within 9 months to submit the dra seaway

Dongbei special steel officially entered bankruptcy reorganization within 9 months to submit the draft plan – Beijing Northeast Special Steel Group officially entered bankruptcy reorganization proceedings on 10 October, Xinhua news agency, Shenyang (reporter Chen Mengyang) 10, Dalian City Intermediate People’s court ruled that the admissibility of Alashan Shenzhen gold smelting limited liability company bankruptcy of Dongbei special Steel Group reorganization application, this means because the corporate bond default and continuous concern of the Northeast Special Steel Group officially entered bankruptcy reorganization proceedings. It is understood that the object as the Northeast Special Steel Group of creditors and suppliers in Alashan Shenzhen gold smelting limited liability company the apply to the court for bankruptcy reorganization including the Northeast Special Steel Group and its subsidiary of Dalian Special Steel Co. Ltd., Dalian high alloy wire rod of a limited liability company. In accordance with the provisions of the enterprise bankruptcy law of the People’s Republic of China, the debtor can not pay off the due debt, the creditor may apply to the people’s court for the debtor reorganization or bankruptcy liquidation application. The bankruptcy reorganization proceedings, creditors shall declare the creditor’s rights, the bankruptcy administrator in the supervision of the people’s courts and the creditors will be the longest in 9 months and finally submit the draft reorganization plan, the people’s court ruling on whether to approve the execution. It is understood that the Northeast Special Steel Group since March 28th this year, "15 East steel CP001 failed to honour" the bond principal and interest, there is a substantial default since has been nine consecutive default, amounting to billions of dollars. The reason for its continuous breach is that the company has a huge debt burden for a long time, the high cost of finance. After the first bond default, its credit rating to a minimum, can not be introduced through the issuance of bonds or loans incremental funding, the chain of funds and debt strand breaks. The legal profession said that the debtor can not repay the maturity of the debt, and the assets are not sufficient to pay off all debts or obviously lack of solvency, the court can be identified as the cause of bankruptcy. The bankruptcy reorganization system is of great significance to equal protection of the interests of all parties, to achieve the regeneration of enterprises, and to protect the legitimate rights and interests of enterprises and workers. Dongbei special steel group is a large state-owned special steel production enterprises, but also China’s special steel industry leader, its history can be traced back to 1905. According to the deputy director of Liaoning provincial SASAC Xu Jisheng, northeast special steel enterprise bond defaults before and after the incident, the Liaoning provincial government and relevant departments to take various measures to help and guide enterprises to actively coordinate with relevant departments to properly handle relevant issues, and timely replacement of the enterprise leadership. At present, enterprises can not afford to pay the financial costs, but rely on their own strength to do the normal operation of production and management, staff stability, strategic product supply stability. Liaoning provincial government deputy secretary general Li Jianguo said that entering the bankruptcy reorganization procedure of Dongbei special steel group towards the direction of their rebirth is a key step, and the concern of the corporate bond default event is also going to the market, legalization of the disposal of the road.相关的主题文章: