Dynamic | Zhongcheng Qingtai Jinan Institute Helps CITIC Guoan Chemical Co., Ltd. and Other 11 Companies to Merge and Reorganize Creditors Meeting Successfully Held
Published:
2022-08-20
On the morning of August 19, 2022, under the auspices of the People's Court of Dongming County, Shandong Province, CITIC Guoan Chemical Co., Ltd., Dongming CITIC Guoan Ruihua New Materials Co., Ltd., Dongming Aoke Fine Chemical Co., Ltd., Shandong Zhaobang Fine Chemical Co., Ltd., Dongming North China Petrochemical Sales Co., Ltd., Jiangsu CITIC Guoan New Materials Co., Ltd., Shanghai CITIC Guoan Chemical Co., Ltd., Shanghai Yunhui Supply Chain Co., Ltd., Shanghai Zhaobang Petrochemical Co., Ltd., Shanghai CITIC Guoan Chemical Technology R & D Co., Ltd., Shanghai Fangyaohui Real Estate Co., Ltd. and other 11 companies (hereinafter referred to as "CITIC Guoan Chemical Co., Ltd. and other 11 companies") merger and reorganization of the first creditor meeting was successfully held in an online manner. On March 15, 2022, Dongming County People's Court issued (2022) Lu 1728 Paoshen No. 1 Civil Ruling, ruling to accept Heze Shirong Trading Co., Ltd.'s application for reorganization of CITIC Guoan Chemical Co., Ltd., and on March 24, 2022 (2022) Lu 1728 Po No. 1 decision was issued, appointing Shandong Zhongcheng Qingtai (Jinan) Law Firm as the manager of CITIC Guoan Chemical Co., Ltd. On June 18, 2022, the Dongming County People's Court issued (2022) Lu 1728 Po No. 1 Civil Ruling, ruling on the substantive merger and reorganization of 11 companies including CITIC Guoan Chemical Co., Ltd., and issued (2022) Lu 1728 Po No. 1 decision, appointing the manager of CITIC Guoan Chemical Co., Ltd. as the manager of the substantive merger and reorganization of 11 companies including CITIC Guoan Chemical Co., Ltd. CITIC Guoan Chemical Co., Ltd. and other eleven companies involved in Shandong, Jiangsu, Shanghai three regions, the work area span, coupled with the impact of epidemic prevention and control, to the management of the work of great challenges. The accounts of the eleven companies are unclear, the first and second phases of the project are completely suspended, and the third phase of the project is under construction. Jiangsu Guoan Company is facing demolition due to environmental governance, and property verification is difficult. After the manager accepts the appointment, he quickly forms a team according to the characteristics of the project, formulates a detailed work plan and work plan, performs his duties diligently and efficiently, and fully performs the duties of the manager. Under the guidance of the court, the administrator coordinates the conflicts of interest of all parties in accordance with the law, actively resolves case disputes, properly handles historical issues, overcomes difficulties, and works together to advance the progress of the case. Representatives of administrators, audit institutions, evaluation institutions, debtor representatives, employee representatives, etc. attended the meeting on site, and creditors who have declared their claims attended the meeting through the National Enterprise Bankruptcy Reorganization Case Information Network. At the meeting, the manager made a "phased work report on the performance of duties" and "a report on submitting to the creditors' meeting to verify claims", the audit institution made a "work note on audit", and the evaluation institution made a "work note on evaluation". The manager's remuneration plan and property management plan were submitted to the creditors' meeting for voting, and the agenda of the meeting was successfully completed. The follow-up manager will continue to adhere to the principle of "according to law, standardization, efficiency and fairness", scrupulously perform their duties, overcome difficulties, actively carry out work under the guidance and supervision of the court, and strive to promote the smooth progress of the case.
On the morning of August 19, 2022, under the auspices of the People's Court of Dongming County, Shandong Province, CITIC Guoan Chemical Co., Ltd., Dongming CITIC Guoan Ruihua New Materials Co., Ltd., Dongming Aoke Fine Chemical Co., Ltd., Shandong Zhaobang Fine Chemical Co., Ltd., Dongming North China Petrochemical Sales Co., Ltd., Jiangsu CITIC Guoan New Materials Co., Ltd., Shanghai CITIC Guoan Chemical Co., Ltd., Shanghai Yunhui Supply Chain Co., Ltd., Shanghai Zhaobang Petrochemical Co., Ltd., Shanghai CITIC Guoan Chemical Technology R & D Co., Ltd., Shanghai Fangyaohui Real Estate Co., Ltd. and other 11 companies (hereinafter referred to as "CITIC Guoan Chemical Co., Ltd. and other 11 companies") merger and reorganization of the first creditor meeting was successfully held in an online manner.
On March 15, 2022, Dongming County People's Court issued (2022) Lu 1728 Paoshen No. 1 Civil Ruling, ruling to accept Heze Shirong Trading Co., Ltd.'s application for reorganization of CITIC Guoan Chemical Co., Ltd., and on March 24, 2022 (2022) Lu 1728 Po No. 1 decision was issued, appointing Shandong Zhongcheng Qingtai (Jinan) Law Firm as the manager of CITIC Guoan Chemical Co., Ltd. On June 18, 2022, the Dongming County People's Court issued (2022) Lu 1728 Po No. 1 Civil Ruling, ruling on the substantive merger and reorganization of 11 companies including CITIC Guoan Chemical Co., Ltd., and issued (2022) Lu 1728 Po No. 1 decision, appointing the manager of CITIC Guoan Chemical Co., Ltd. as the manager of the substantive merger and reorganization of 11 companies including CITIC Guoan Chemical Co., Ltd.
CITIC Guoan Chemical Co., Ltd. and other eleven companies involved in Shandong, Jiangsu, Shanghai three regions, the work area span, coupled with the impact of epidemic prevention and control, to the management of the work of great challenges. The accounts of the eleven companies are unclear, the first and second phases of the project are completely suspended, and the third phase of the project is under construction. Jiangsu Guoan Company is facing demolition due to environmental governance, and property verification is difficult. After the manager accepts the appointment, he quickly forms a team according to the characteristics of the project, formulates a detailed work plan and work plan, performs his duties diligently and efficiently, and fully performs the duties of the manager. Under the guidance of the court, the administrator coordinates the conflicts of interest of all parties in accordance with the law, actively resolves case disputes, properly handles historical issues, overcomes difficulties, and works together to advance the progress of the case.
Representatives of administrators, audit institutions, evaluation institutions, debtor representatives, employee representatives, etc. attended the meeting on site, and creditors who have declared their claims attended the meeting through the National Enterprise Bankruptcy Reorganization Case Information Network. At the meeting, the manager made a "phased work report on the performance of duties" and "a report on submitting to the creditors' meeting to verify claims", the audit institution made a "work note on audit", and the evaluation institution made a "work note on evaluation". The manager's remuneration plan and property management plan were submitted to the creditors' meeting for voting, and the agenda of the meeting was successfully completed. The follow-up manager will continue to adhere to the principle of "according to law, standardization, efficiency and fairness", scrupulously perform their duties, overcome difficulties, actively carry out work under the guidance and supervision of the court, and strive to promote the smooth progress of the case.
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