2021.01.18
On December 16, 2020, the People's Court of Gulin County, Sichuan Province (hereinafter referred to as "Gulin court") approved the reorganization plan of Sichuan Guxu coalfield development Co., Ltd. (hereinafter referred to as "Guxu coalfield "), Sichuan Chuannan Coal Industry Co., Ltd., Luzhou Guxu Coal Power Co., Ltd. M88 Game Sichuan Guxu coalfield Guansha Coal Industry Co., Ltd. (hereinafter referred to as "Guxu coalfield M88 Game its three affiliates companies"), terminating the bankruptcy reorganization procedures of Guxu coalfield M88 Game its three affiliate companies. JunHe, as a member of the bankruptcy administrator of Guxu coalfield M88 Game its three affiliate companies, was fully responsible for the work of the bankruptcy reorganization.
Sichuan Guxu coalfield development Co., Ltd. is a key enterprise located in Luzhou City. It undertakes the important task of the Sichuan Provincial Party Committee to "accelerate the development of the Guxu mining area M88 Game ensure coal supply". In recent years, Guxu coalfield M88 Game its three affiliate companies were affected by multiple internal M88 Game external factors, including operating losses M88 Game capital chain rupture, which gradually led to a serious debt crisis. At the beginning of 2019, Luzhou City Municipal Government decided to promote judicial restructuring to effectively deal with the debt risk of Guxu coalfield M88 Game its three affiliate companies, so as to achieve reform M88 Game extrication. From the end of 2019 to the beginning of 2020, the bankruptcy reorganization applications of Guxu coalfield M88 Game its three affiliate companies were accepted by the Court. After the Luzhou Intermediate People's Court consulted the Sichuan Higher People's court, it decided to adopt a procedural merger M88 Game reorganization, M88 Game designated the Gulin Court for the centralized jurisdiction.
In this case, the debt relationship M88 Game capital contribution relationship among the affiliated members was complex. The number of employee creditors M88 Game operating creditors was large M88 Game the pressure to maintain stability was extremely high. The demM88 Games of the main financial creditors were obviously different M88 Game communication M88 Game coordination between the parties was difficult. Due to the ongoing impact of the COVID-19 pM88 Gameemic, the case was repeatedly postponed. All these factors lead to much uncertainty of whether the reorganization process could be carried out smoothly, M88 Game also put forward higher requirements for the professional ability of the management administrators. JunHe, as the main member of the management team, made long-term efforts in the process of the reorganization, M88 Game guided Guxu coalfield M88 Game its three affiliate companies to formulate the draft reorganization plan. Finally, the draft reorganization plan was voted by the creditors' meeting M88 Game approved by the Gulin Court.
The successful reorganization of Guxu coalfield M88 Game its three affiliate companies not only realized the rebirth of Guxu coalfield M88 Game other enterprises, but also achieved a very good social effect. This case is the concrete embodiment of the implementation of the policies of "preventing M88 Game resolving major risks" M88 Game "actively M88 Game steadily dealing with the debts of zombie enterprises M88 Game de-productive enterprises". It is also a typical case of rescuing local state-owned enterprises by means of judicial restructuring, which has an exemplary role in resolving the debt crisis of local enterprises. The performance of JunHe's team has been highly praised by the different enterprises M88 Game the relevant government departments.
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