More than 300 million accounts receivable of a company in Jiangsu were auctioned and taken by 340,000 people.

2023-05-23 14:01:21

After 278 incremental bids, the final transaction price was about 344500 yuan. Although it has obtained more than 300 million creditor's rights receivable with about 344500 yuan.

Jiangyin Changsheng Chemical Fiber Co., Ltd. once again welcomed the tenth auction of accounts receivable. The starting price is only 150 yuan. This is the tenth debt auction. The starting price of the first auction is as high as 307.07 million yuan, while the starting price of the tenth auction is less than a fraction of the first auction. However, even if you don't get any money from buying these debts, you don't lose anything. As a result, the auction attracted as many as 11 bidders. After 278 incremental bids, the final transaction price was about 344500 yuan. Although it has obtained more than 300 million creditor's rights receivable with about 344500 yuan, it is the accounts receivable of the bankrupt company after all. It does not have the same physical nature as the factory buildings, machinery and equipment, and inventory being auctioned. Want to take back.. But it's not that simple, otherwise all the previous nine auctions would not have failed.

According to the published accounts receivable information, there are 13 accounts receivable of more than 300 million, one of which is Jiangyin Gangzhong Trading Co., Ltd., which owes 300 million yuan. The company does not know where the company's address is, and the company's registered address is not the company. At present, Jiangyin Gangzhong Trading Co., Ltd. is involved in many lawsuits and execution cases. Shareholders are restricted to high consumption and listed as executed persons. The related debt has been unable to repay. Finally, the registered capital of the company is only 500000 yuan. In addition, two of the other 12 arrears were more than one million yuan, and the companies that owed money were similar to those that owed 300 million yuan. It is estimated that the probability of getting the money back is extremely low. The other ten receivables range from hundreds of thousands to tens of thousands. The main reason is that companies that owe money simply ignore or cannot be contacted. The money owed is relatively easy to get back, after all, the company that owes money is still there. Of course, this auction of accounts receivable does not exclude the auction of enterprises in debt. In this way, they don't have to pay back the money they owe, and they can become creditors.

Jiangyin Changsheng Chemical Fiber Co., Ltd. was established on March 15, 2004, registered in Zhouzhuang Science and Technology Industrial Park, Jiangyin City. It is a subsidiary of Jiangsu Nijiaxiang Group Co., Ltd. Previously, the factory buildings, machinery and equipment and various inventories of Jiangyin Changsheng Chemical Fiber Co., Ltd. have been auctioned, and all of them have been successfully auctioned. The auction of more than 300 million receivables was finally successfully auctioned.

Such auctions raise many questions. First of all, why did these ten auctions turn out like this? Is the starting price too high or other reasons? Secondly, if so many companies have the problem of arrears, it shows that the operation of these companies is quite bad. On the issue of arrears, how to safeguard the interests of enterprises and creditors is the most critical issue. Finally, if the debtor auctions the receivables, what happens to the auction? Is the purpose to avoid paying the debt?

For enterprises, the problem of arrears is far more serious than we think. In the current economic development, scientific business philosophy and behavior are indispensable. Only in this way can we cover many enterprises and be evergreen. In our economy, more laws and regulations are needed to protect the rights and interests of enterprises and creditors against future arrears and bankruptcies

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After 278 incremental bids, the final transaction price was about 344500 yuan. Although it has obtained more than 300 million creditor's rights receivable with about 344500 yuan.

2023-05-23 14:01:21

On April 19-22, 2026, the 2026 Annual Conference of the World Cement Association was held in Bangkok, Thailand. During the conference, WCA Chairman Wei Rushan delivered a keynote speech. The full text is as follows.