On November 13, the Intermediate People's Court of Chenzhou, Hunan, issued a civil ruling declaring the bankruptcy of Zhehua Cement in Linwu County and terminating the bankruptcy proceedings. Previously, the company administrator applied to the court, claiming that the case had actually incurred bankruptcy expenses of 11.79 million yuan, and that the company's property available for liquidation was 0, which was insufficient to pay off the bankruptcy expenses, and requested the court to declare bankruptcy and terminate the bankruptcy proceedings. Finally, the court granted permission, so far the company has applied for cancellation.
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