Fengdeng Company's 120 million yuan restructuring plan was approved by the creditors' meeting
Time:
2020-08-08
Author:
Xiong Wei
Source:
Guangxi Tongwang Law Firm
Visits:
46
On August 7, 2020, the third creditors' meeting of the Guangxi Nanning Fengdeng Chemical Co., Ltd. (hereinafter referred to as Fengdeng Company) bankruptcy reorganization case, handled by Tongwang as the administrator, was held in the trial court of the Long'an County People's Court. The meeting approved the reorganization plan submitted by the administrator for deliberation.
▲Meeting site
Since Tongwang Law Firm was designated by the Long'an Court on October 8, 2019, to serve as the administrator, it has appointed Ye Jianhan, director of the Enterprise Bankruptcy and Reorganization Legal Affairs Department, Wu Jing, deputy director of the Construction Engineering and Real Estate Legal Affairs Department, and Liu Jinxin, deputy director of the Investment, Financing, Securities, Insurance and Company Legal Affairs Department, as the core leadership team. Under the leadership of the core leadership team, Xiong Wei, Huang Weililian, Feng Shunqiang, Huang Xuni, Li Hankao, Qin Zhipeng, Fu Jie, Su Zhuda and other backbone lawyers worked together with one heart and one mind, lived up to expectations, and after 10 months of hard work, finally submitted a draft reorganization plan worth 120 million yuan to the creditors' meeting for voting.
▲The administrator is giving a work report
The approval of the reorganization plan is a shining milestone in the bankruptcy reorganization case of Fengdeng Company, marking that under the guidance and supervision of the Long'an Court, the administrator has legally advanced the case to the substantive reorganization implementation stage through negotiations with creditors, debtors, reorganizers and other stakeholders.
▲Meeting sign-in site
According to the reorganization plan, in addition to promising to invest 120 million yuan to pay off various debts and pay for the expenses incurred in bankruptcy, the reorganizer will also invest separately in the transformation and upgrading of technology, equipment and production processes to optimize the production capacity structure. Introduce a more modern management model, focus on solving the contradiction between supply and demand, and provide new impetus for Fengdeng Company to continue to generate blood. The administrator will continue to faithfully perform its statutory duties, forge ahead, and implement the implementation and work of the reorganization plan.
▲Meeting voting, voting and statistics site
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