On June 12th, the manager of Henan Xinfei Electric Co., Ltd., Beijing King & Wood Mallesons Law Offices issued the “Announcement on the Progress of Xinfei Electric's Restructuring According to Law”, and the announcement stated that Xinfei Electric’s legal restructuring is progressing smoothly.
On May 18th, Xinfei’s second creditors’ meeting voted on the draft of Xinfei’s restructuring plan. According to the requirements of the rejuvenation plan, the original shareholders’ equity of Xinfei’s company will be fully adjusted and transferred to the appropriate grid. Investors.
According to the auction target information announced on the Ali auction platform, 100% equity of Henan Xinfei Electric Appliance Co., Ltd., Henan Xinfei Home Appliances Co., Ltd. and Henan Xinfei Refrigeration Appliances Co., Ltd. will be from June 10, 2018 to June 2018. At 10:00 pm on the 29th (except for time delay), a public auction was held on the Taobao.com Judicial Auctions Online Platform of the Xinxiang Municipal Intermediate People's Court in Henan Province. The starting price was RMB 450 million. In addition, some land under the name of Xinfei Electric, real estate and The building will also be auctioned on July 5 with an auction starting price of RMB 115 million.
Recently, some media used the “bankruptcy auction” and other relevant expressions in reports. In response, Xinfei managers clarified: The bankruptcy liquidation and bankruptcy reorganization are two legal concepts, which are very different, and the nettext is confusing. At present, Xinfei has been in the implementation phase of reforming and all work has progressed smoothly.
The new flight manager stated in the announcement that, according to the reorganization plan roadmap, Xinfei Company innovatively used equity auctions to recruit restructured investors. 'It's worth noting that the purpose of this public auction is to recruit qualified recapitalizers. , is a public auction based on a reorganization plan, not a passive asset judicial auction.
On May 21, the Xinxiang Intermediate People's Court ruled that the Xinfei Reorganization Plan was approved. In this regard, Xinfei Management stated that it had obtained good legal and social results and laid the foundation for the smooth implementation of the relocation of Xinfei.
The new flight manager said that he hopes to peel off the new flight of debt and inefficient assets. He can move forward lightly and return to life. Sincerely hope that Xinfei welcomes new shareholders, new management team, new business philosophy, and continues to introduce to the market. The new technology, as always, presents high quality products for consumers. We look forward to experiencing a new flight of Nirvana to regain a place in the home appliance market.