company news about Northeast Special Steel Group Submitted A Draft Bankruptcy Reorganization Plan

The latest developments in the bankruptcy and reorganization of the Northeast Special Steel Group. Reporters from the Northeast Special Steel Group bankruptcy reorganization manager was informed that the Northeast Special Steel Group and its managers on the 10th to Dalian Intermediate People's Court submitted a draft restructuring plan.

For the most concerned about the reorganization of the community investors, Liaoning Province, deputy director of the SASAC Xu Jisheng introduced, there will be two private and state-owned large-scale iron and steel enterprises to participate in the reorganization, and the Northeast Special Steel Group is also expected to bankruptcy The opportunity to achieve mixed ownership reform.

It is understood that, in accordance with the law, July 10 is the Northeast Special Steel Group restructuring plan submitted deadline. Previously, due to the objective does not have the conditions for the preparation of the reorganization plan, the draft of the reorganization plan has been postponed twice.

According to reports, into the bankruptcy reorganization process, including the Liaoning Provincial SASAC, including the Northeast Special Steel Management team, close contact with potential investors, and actively organize the potential investors, the main financial creditors to reorganize the investment program and other relevant content Conducted a number of rounds of communication, consultation, in the whole process of major financial creditors open, fully respect the views of financial creditors, to determine the current investors.

Xu Jisheng said that the Northeast Special Steel Group has entered the bankruptcy reorganization process, has maintained a normal production and business activities.

According to the law, the next meeting of the second creditors will be held by the creditors to vote on the draft plan. The draft of the reorganization plan will eventually require the Dalian Intermediate People's Court to approve the approval before it can produce legal effect and enter the execution stage.

Northeast Special Steel Group is a large state-owned special steel production enterprise, the company has long been a huge debt burden, high financial costs. Last year in March the company issued a corporate bond continuous breach of contract, causing a serious debt crisis. On October 10 last year, the Dalian Intermediate People's Court ruled that the Northeast Special Steel Group and its affiliated companies entered the bankruptcy reorganization procedure and designated the bankruptcy reorganization manager.

Editor: Zeng Qiaoqiao Source: Economic Reference