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Jinan Foundry Forging Machinery Research Institute Co., Ltd. Bankruptcy Liquidation Second Creditors Meeting Held Successfully

Published:

2021-04-20

At 9:30 a.m. on June 30, the second creditors' meeting for bankruptcy liquidation of Jinan Casting and Forging Machinery Research Institute Co., Ltd. (hereinafter referred to as Casting and Forging Institute), which was the manager of Zhongcheng Qingtai Jinan, was successfully held.

On January 11, 2019, the Changqing District Court ruled to accept the bankruptcy liquidation case of the casting and forging house, and appointed Zhongcheng Qingtai Jinan as the administrator on January 17. On April 25, 2019, the first creditors' meeting of the bankruptcy liquidation of the foundry was successfully held under the auspices of the Changqing District Court. After examination, the casting and forging house was unable to pay off the debts due and the assets were not sufficient to repay all the debts, and the Changqing District Court ruled on August 16, 2019 to declare the casting and forging house bankrupt.

The meeting was held on the national enterprise bankruptcy reorganization case information network in the form of network, presided over by the authorized representative of the chairman of the creditors' meeting, and attended the meeting on the spot by the representative of the administrator, the representative of the audit institution, the representative of the evaluation institution, the legal representative of the casting and forging institute and the employee representative. Creditors log on to the network meeting port to attend the meeting online. According to statistics, the proportion of actual voting claims to the total number of voting creditors is 93.08 per cent, and the proportion of claims represented by actual voting creditors to the total number of voting claims is 99.28 per cent.

At the meeting, the administrator made a "report on the phased work of the performance of his duties" and "a report on the second creditors' meeting to verify the claims", read out the "bankruptcy property distribution plan", and submitted it to the creditors' meeting for consideration and voting. The Bankruptcy Property Distribution Plan was approved by a high vote by all voting creditors.

In the next step, the administrator will make the first distribution in accordance with the provisions of the law and the "bankruptcy property distribution plan" approved at this meeting, and continue to realize the remaining bankruptcy property in accordance with the "property price change plan" approved by the first creditors' meeting, so as to maximize the bankruptcy property and safeguard the legitimate rights and interests of all creditors, To ensure the smooth progress of the bankruptcy liquidation procedures of the foundry.