d3 gold claims these creditors or has not had time to register and confirm - MWL

Zhang Lihua Li Juan Wenzhou debit disputes involving at least $ 2.2 billion of debt, evolution is a criminal case, and the intensification of this process highlights the Administration and justice in dealing with difficult situations in such disputes. On February 3, 2012, in taishun County of Wenzhou City police on the people of Wenzhou State education Holdings Limited (hereinafter referred to as "State group") DirectorLong Dong Shunsheng and a group of 5 other criminal enforcement Director. Taishun Hong Zhourong, Vice Minister of the propaganda Department of the business news, Dong Shunsheng and others criminal compulsory measures, due to the masses to report State financed group of civil behavior, not involving other criminal offences. Dong Shunsheng suspected high-interest get fed was illegally absorbing deposits in public, has not yet been qualitative. ThisSince October 31, 2011 State Group announced its stopping debt-servicing, the debit dispute by the debt restructuring of enterprises under the guidance of the Executive to the evolution of the criminal intervention of a strong signal. Outstanding debt is still under investigation by State group was established in 2003, the registered capital of 320 million Yuan, Dong Shunsheng of legal representative. Formerly known as Dong Shunsheng 1998Founded in taishun County of yucai high school. Before the incident, the company has high school, kindergartens, companies-a total of 36 homes, located in Inner Mongolia, Jiangsu and so on throughout the country, since 2005, the company's business scope expanded to invest in real estate, mining and other fields. Wenzhou private lending crisis broke out last year, Li Man Group funding chains break. 20On October 31, 11, fostering people meeting "borrowers Congress". Board announces that with effect from November 1 the old republic commendation power leveling, 2011 stop paying interest on the financing and, recapitalize. After the unilateral declaration does not honour civil loan, State Board of Directors Director Lei Xiaocao told the media that: according to group statistics, total debt around $ 2.2 billion, most of whichPrivate borrowing, only a very small part of the Bank loans and corporate assets at more than 5 billion, is not insolvent. Hong Zhourong said just unilaterally of fostering people group provides $ 2.2 billion debt amount, the real amount is still in the statistics. In taishun County Government has hired an accounting firm in Wenzhou City, in Jiangsu, Shanghai, Inner Mongolia, respectively, State group of more than 20 companies ownedDebt and thoroughly. Some creditors ' agent for the case of two lawyers--Wenzhou nationality Beijing Beijing, zhe Zhang Ren law firm lawyers and vibration State law firm Attorney Lin Caihong expressed objections to the $ 2.2 billion of this figure is. Lin Caihong told this newspaper that, according to his understanding, fostering people group in Inner Mongolia, and Jiangsu have also occurred in the real estate business and private financing of coal mine tor Mercenary Commendation power leveling, Inner MongoliaAncient 300 million or 400 million, Jiangsu Province about 700 million, claims these creditors or has not had time to register and confirm, that were not included in the. Consider ten years group to civil scroll of financing and has billions of principal and interest payment, said Lin Caihong estimated State group of people involved in private financing payments could reach $ 7 billion to $ 8 billion. Differentiation of interests of creditors, in the developments to the policePrior to the imposition of criminal compulsory measures, is in the process of negotiation and mediation of the dispute. In November 2011, the State group has made three debt restructuring plan: first, debt-for-equity. Out of State investment company, limited, Shanghai 20% shares, or Ordos, Inner Mongolia coal mine shares in good faith. Second, the subscription from xuyi, Jiangsu Bai Thai land to build. Third, five-year stagesRepayment of debt. Hong Zhourong says, to date, has involved about $ 1.6 billion worth of the debt creditors approved the three debt solutions. Vertical group of creditors more than that. Zhang Ren and Lin Caihong agent of the creditors do not agree with the above three restructuring programmes, which involved hundreds of creditor claims 100 million the amount ~2 billion yuan. Zhang Ren and Lin Caihong said,Their clients, control and operation of the three programmes is not strong. First, the State group assets of more than 5 billion people, only took out the two stakes in participating companies, and equity in the eyes of creditors is "fantasy"; the second, real estate project of Jiangsu debt is much higher than the market price per square meter, but property under construction, and built does not necessarily ensure a smooth selling third,Five-year time span of the lack of appropriate protection. They are part of two lawyers representing the other creditors for lower-income people, some of them lent money from relatives and friends of the Department of State group lending, debt that some creditors are more likely to discount, cash pay as soon as possible. Allegedly, in 2012 before the Spring Festival, which creditors have tried negotiations with the State group and ask them toReimbursement of 10%, but the two sides have not agreed, some creditors then select petitioners. Lin Caihong said, standing before the Group announced the termination of debt-servicing for three or four months, raising more than 900 million yuan in order to "take new or old" approach, meet some "had also claims", it was "irresponsible" behavior, while Zhang Ren and Lin Caihong client, most of this stageParticipate in the financing of "pingtoubaixing". Program topic: the judicial? In this context, this Dong Shunsheng take criminal coercion by the police, was seen as a soothing mood of some creditors. Hong Zhourong to this newspaper that the handling of this dispute, judicial intervention and without delay in administrative intervention, and judicial and administrative intervention "sync". Lawyers to court later thanNot filing that does not understand. According to Lin Caihong, last December, the two lawyers in taishun County people's Court, but issued by said courts d3 gold, involved a large number of disposal and the County Government has set up the Office, therefore no filing. Zhang Ren and Lin Caihong proceedings subsequent to the Wenzhou intermediate people's Court, also received the same reply. The enterprise bankruptcy law of the drafting groupMember Li Shuguang, Vice President, China University of political science and law graduate school on this newspaper said that fostering people group in October last year has made it clear that unable to repay debts, creditors and involved a large number of Government should start monitoring and intervention functions, the Court through the normal judicial process, into the debt settlement or bankruptcy, bankruptcy and reorganization procedures. Inventory of assets and liabilities, should actLed by, or direct discharge, or establishment of the creditors ' Committee, designated management inventory. Administrative departments shall make judicial proceedings, normal operation as soon as possible, do not always handle disputes in arbitration and mediation, because if not handled properly, but easy to make contradictions from intensifying, "the role of local Government should not cured is a debt dispute calm person. "Li Shuguang said. (Editors: Cao Lu璠)