The First Creditors' Meeting of Guangxi Huanjiang Qingfeng Wood Industry Co., Ltd. Bankruptcy Liquidation Case Was Successfully Held
Time:
2020-09-28
Author:
Source:
Guangxi Tongwang Law Firm
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On the morning of September 25, 2020, the first creditors' meeting of the bankruptcy liquidation case of Guangxi Huanjiang Qingfeng Wood Industry Co., Ltd. (formerly Guangxi Huanjiang Fenglin Man-made Board Co., Ltd., hereinafter referred to as Qingfeng Company), with Tongwang as the administrator, was held in Huanjiang Maonan Autonomous County People's Court (hereinafter referred to as Huanjiang Court). The meeting approved the "Rules of Procedure for Creditors' Meeting", "Property Management Plan", "Property Valuation Plan", "Property Distribution Plan" and other proposals.
▲The picture shows the meeting site
▲The picture shows Wei Lichun, the presiding judge of the Civil Trial Division of Huanjiang Court, presiding over the meeting
▲The picture shows Lawyer Ye Jianhan, the head of the administrator, giving a work report
After examination and verification by the administrator, as of September 20, 2020, a total of 20 types of claims were declared by Qingfeng Company's creditors. The types of declaration and registration include employee claims, tax claims, social security claims, claims with property guarantees, and general claims.
Qingfeng Company was established on October 29, 2004, and is located in Sien Town, Huanjiang County, Guangxi. It is a large-scale enterprise engaged in wood processing and development in Huanjiang County, with a registered capital of RMB 33.8 million. Its business scope includes the processing and sales of wood-based panels and forest products. Due to continuous and severe losses in the company's operation, it has been seriously insolvent and unable to pay off its debts as they become due. Upon application by the creditor, Huanjiang Court ruled to accept the bankruptcy liquidation case of Qingfeng Company on June 12, 2020, and designated Tongwang Law Firm as the administrator of Qingfeng Company on August 3, 2020.
After being designated as the administrator, Tongwang immediately formed an administrator team, headed by Senior Partner Ye Jianhan, Director of the Enterprise Bankruptcy Pre-reorganization Legal Affairs Department, as the person in charge of the administrator. On August 11, the administrator officially took over Qingfeng Company and successively carried out a series of tasks including property investigation, property takeover, interviews with relevant units and individuals, creditor declaration and review, and preparation for the first creditors' meeting.
▲The picture shows the voting, voting and statistics site of the meeting
In the next step, the administrator will continue to diligently perform its statutory duties under the guidance and supervision of Huanjiang Court, promote the implementation of the resolutions of this meeting, do a good job in relevant litigation work based on the creditor review and review situation, continue to investigate Qingfeng Company's property, and do a good job in the valuation and distribution of Qingfeng Company's property.
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