Recently, the civil ruling of the First Intermediate People's Court of Beijing shows that the bankruptcy liquidation of Fangshan Nanjiao Cement Plant in Beijing has been accepted.
The ruling shows that the liquidation group of the applicant's Beijing Fangshan Nanjiao Cement Plant (hereinafter referred to as the liquidation group) is unable to negotiate with the creditors on the grounds that the assets of the respondent's Beijing Fangshan Nanjiao Cement Plant (hereinafter referred to as the Nanjiao Cement Plant) are insufficient to pay off all the debts. Apply to the First Intermediate People's Court of Beijing for bankruptcy liquidation of the respondent Nanjiao Cement Plant. The result of
the ruling is to accept the application for bankruptcy liquidation of Beijing Fangshan Nanjiao Cement Plant by the liquidation team of Beijing Fangshan Nanjiao Cement Plant.
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