Chongzuo intermediate people's court successfully

2022-08-17
  • Detail

Chongzuo intermediate people's court successfully concluded the bankruptcy liquidation case of East Asia Paper Company

release date: Source: Xinjiang of Chongfa

on August 28, Chongzuo intermediate people's court held a press conference on the bankruptcy liquidation case of Guangxi East Asia Paper Co., Ltd., announcing the successful conclusion of the bankruptcy liquidation case of East Asia Paper Company. Lu Hongming, Secretary of the Party group and acting president of the court, and Li Qilu, deputy secretary of the Party group and vice president of the court attended the press conference. On the same day, creditors, managers, staff representatives, some municipal people's Congress representatives, CPPCC members, and the media, a total of 40 people attended the press conference. The press conference was presided over by Yang Deqing, President of the second civil court of the court and the sponsor of the bankruptcy liquidation case of East Asia Paper Company

due to the influence of market conditions, together with the reasons of capital fracture and operation management, the company's production and operation are in trouble. Since 2015, creditors have successively filed a lawsuit to the people's court and applied for enforcement. Instead, the industrial control computer was selected and the subject matter of application for execution was more than 50million higher than the asset evaluation price. Chongzuo intermediate people's court auctioned the property of East Asia Paper Company three times, all of which were sold out because there was no bidding. On December 22nd, 2017, Guangxi Chongzuo Guinan Rural Commercial Bank Co., Ltd. applied to Chongzuo intermediate people's court for bankruptcy liquidation of East Asia Paper Co., Ltd. on the grounds of how to analyze and understand the errors of Jinan gold testing pressure testing machine in the operation process. East Asia Paper Co., Ltd. could not pay off its due debts and obviously lacked solvency. On December 27 of the same year, Chongzuo intermediate people's court ruled to accept the bankruptcy liquidation case of East Asia Paper Company, and appointed Guangxi Tongwang law firm as the manager of East Asia Paper Company

in order to avoid the impact of "breaking it down" on the local economy, Chongzuo intermediate people's court actively explored a new way to resume production and operation in the bankruptcy liquidation process. After many investigations and communications with the administrator, it was finally decided to sell the bankruptcy property conditionally, so that the buyer would be determined in the future by relying on the national dual-use technology trading center to attract investment and resume the production of Dongye paper company. On July 18, 2018, Chongzuo intermediate people's court held a quotation (bid opening) meeting of bidders for East Asia Paper Company and even caused the feeder to stop rotating. After comprehensive consideration of various factors, Huajin Group was legally determined as the buyer of the bankruptcy property of East Asia Paper Company on August 1 of the same year. At the end of July this year, Huajin Group paid 153.53 million purchase money in accordance with the overall asset transfer agreement

Copyright © 2011 JIN SHI