The First Creditors' Meeting of the Bankruptcy Liquidation Case of Luzhai County Yinfeng Microfinance Co., Ltd. was Successfully Held
Time:
2020-06-11
Author:
Weining
Source:
Guangxi Tongwang (Liuzhou) Law Firm
Visits:
32
On June 10, 2020, the first creditors' meeting of the bankruptcy liquidation case of Luzhai County Yinfeng Microfinance Co., Ltd., managed by Guangxi Tongwang (Liuzhou) Law Firm, was successfully held in the Grand Court of Luzhai County People's Court.
Luzhai County Yinfeng Microfinance Co., Ltd. (hereinafter referred to as "Yinfeng Microfinance Company") was established in 2010 and approved by the District Financial Office as a limited liability company that can engage in microfinance business. Yinfeng Microfinance Company stopped operating in 2015 due to poor management. Later, due to serious insolvency and inability to pay off due debts, the creditor applied to the court for its bankruptcy. Luzhai County People's Court issued a civil ruling No. (2020) Gui 0223 Po Shen 2 on February 20, 2020, ruling to accept the bankruptcy liquidation case of Yinfeng Microfinance Company, and at the same time designated Guangxi Tongwang (Liuzhou) Law Firm as the administrator of Yinfeng Microfinance Company.
After Guangxi Tongwang (Liuzhou) Law Firm was designated as the administrator, the bankruptcy team members immediately went to Yinfeng Microfinance Company to understand the situation and take over the work. However, since the company stopped business in 2015, it has moved away from its original registered address for many times, and the relevant documents, original vouchers, and account books have not been able to be completely retrieved or taken over. The administrator can only apply to the court to retrieve bank account statements and go to relevant departments to retrieve its historical data, visit relevant creditors, original shareholders, etc., to learn as much as possible about the assets, creditor's rights and debts of Yinfeng Microfinance Company. Before the first creditors' meeting was held, the administrator also carefully verified the 17 declared claims. As of June 9, 2020, the total amount of declared claims was RMB 140,291,524.63.
Under the guidance and supervision of the Luzhai Court, the administrator conscientiously completed all the preparatory work for the first creditors' meeting. At the first creditors' meeting, the creditors unanimously approved all seven items that needed to be voted on, such as the "Work Report of the Administrator Performing Duties", "Rules of Procedure for the Creditors' Meeting", "Bankruptcy Property Management Plan", "Bankruptcy Property Valuation Plan" and "Bankruptcy Property Distribution Plan". During the meeting, the administrator also answered relevant questions raised by the creditors based on the information learned, the information found and relevant laws and regulations.
After the meeting, the administrator will continue to pursue the external claims of Yinfeng Microfinance Company under the supervision and guidance of the Luzhai Court to protect the legitimate rights and interests of relevant creditors.
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