Recently, the People's Court of Haian City, Jiangsu Province, announced that on September 22, 2023, the Court decided to accept the bankruptcy liquidation case of Haian County Traffic Cement Co., Ltd. on the basis of the application of the creditor, Suzhou Houde Zaiwu Commercial Operation Management Co., Ltd.
The Court finds out that according to the examination of the bankruptcy administrator, as of November 29, 2023, the total amount of the creditor's rights confirmed by Haian County Traffic Cement Co., Ltd. is 2442921.13 yuan, the amount of the distributable property of Haian County Traffic Cement Co., Ltd. is 26747.75 yuan, and the bankruptcy expenses are 0.73 yuan 291618. In accordance with the provisions of Article 43, Article 107 and Article 120 of the Enterprise Bankruptcy Law of the People's Republic of China,
the Court holds that Haian County Traffic Cement Co., Ltd. is unable to pay off its due debts and its property is insufficient to pay off the bankruptcy expenses. On November 29, 2023, the Court decided to declare the bankruptcy of Haian County Traffic Cement Co., Ltd. and to terminate the bankruptcy liquidation procedure of Haian County Traffic Cement Co., Ltd.
In addition, on November 3, the People's Court of Yumen City, Gansu Province, announced that the bankruptcy liquidation case of the debtor Yumen Laojunmiao Special Cement Co., Ltd. was accepted by the Court because the administrator of Yumen Laojunmiao Special Cement Co., Ltd. approved by the Court's ruling. The property of Yumen Laojunmiao Special Cement Co., Ltd. has been distributed. According to the application of the administrator and the provisions of Article 120 of the Enterprise Bankruptcy Law of the People's Republic of China, the Court issued a civil ruling (2020) Gan 0981 Min Po No.1-5 on November 30, 2023. The ruling terminated the bankruptcy proceedings of Yumen Laojunmiao Special Cement Co., Ltd.
It is understood that Yumen Laojunmiao special cement assets are currently being auctioned.
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