On January 19, the first meeting of creditors of Henan Xinfei Electric Appliance Co., Ltd., Henan Xinfei Appliance Co., Ltd. and Henan Xinfei Refrigeration Appliance Co., Ltd. (hereinafter referred to as 'Xinfei Three Company') merger and reorganization was held on the network.
In early November 2017, the company announced a restructuring statement, saying that due to the market competition and the downturn, the new three companies sustained losses in the past few years, although the foreign shareholders to give a lot of money and support, or can not be completely saved Faced with the market challenge, forced by the pressure of the capital chain, but to stop production activities.Ningfei three companies on October 30, 2017 to Henan Xinxiang Intermediate People's Court ('Xinxiang Intermediate') to submit a restructuring application, under the supervision of the court , According to the law for restructuring.
On Nov. 9, 2017, Xinxiang Intermediate People's Court respectively made the civil ruling (2017) Yu 07 Min Chu No. 6-1, No. 7-1 and No. 8-1 and decided to accept the application for the restructuring of Xinfei III, On November 20, 2017, the "Decision" of (2017) Yu 07 Min Chu 6-2, 7-2, 8-2 was issued, and Beijing Jin Du Law Firm was appointed as the management of Xin Fei San through open competitive bidding people.
Beijing King & Wood law firm said that due to multiple internal and external factors, Sunfing was caught in financial and operational difficulties facing large-scale debts, a large number of creditors, lawsuits and litigation, capital chain tension, workers and suppliers, distributors difficult Stable maintenance and other issues.As of Xinxiang Intermediate Court to determine the case of claims deadline January 5, 2018, a total of 823 creditors to declare claims to the administrator, the amount of 2453510496.91 yuan declared .In January 5, 2018 after the supplementary reporting Of the creditors, the administrator will conduct a registration review, the delay in reporting does not affect the creditor's substantive rights.
Due to the fact that Xinfei Company can no longer achieve normal capital inflow through normal sales, the Manager intends to raise funds mainly by maintaining and gradually expanding the existing sales, shortening the sales and payment cycle, maximizing the delivery of cash, During the entire period of sales activities to achieve the payment; managers to assist companies to increase the collection of accounts receivable efforts to recover by recovering historical deposits; recruit investors, restructuring investors by borrowing, providing liquidity at no consideration And other legitimate ways for the new production and operation of the company to provide financial support; loans.
Xinfei three company managers, Beijing Jin Du law firm said that follow-up, the manager will be under the supervision of the Xinxiang Intermediate Court, stepping up efforts to recruit investors to recruit, with the help of investors to help re-fly The company resumed production. At present, there are many well-known domestic and foreign enterprises have submitted their investment intentions.
It is reported that the timing and venue of the second meeting of the creditors of the merger and reorganization of the new flight will be announced separately according to the reorganization.