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Court judicial service economic construction and then a new chapter --- High-tech court to guide the bankruptcy enterprise restructuring to help it back to life!

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Sep 21,2016

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On the morning of September 20, 2016, Zhengzhou High and New District Court held a press conference to inform about the successful restructuring of the bankruptcy case of Henan Dadi Agrochemical Co. The case is the first bankruptcy case in Henan Province that successfully achieved substantive restructuring of the enterprise, which is significant. The press conference was attended by representatives of the bankruptcy case manager, creditors, strategic investors, enterprise employees and more than ten media representatives including Henan TV, Henan Daily, Henan Legal News, Dahe Daily, Henan Business News and Zhengzhou TV.

The press conference was hosted by Gao Xiaoming, the spokesperson of the court, a full-time member of the trial committee and the contractor of the bankruptcy case of Henan Dadi Agrochemical Co., Ltd. The deputy secretary of the party group and vice president Takayama informed the representatives of all walks of life about the trial of the case and the main practices of the court, and issued the first batch of claims to the representatives of creditors and answered the questions of reporters about the handling of the case. Henan Dadi Agrochemical Co., Ltd. has certain market recognition and exclusive enjoyment of the production system of ethyl alliin prodrug, but due to the large debts accumulated over the years, the creditors, debtors, employees and other rights and interests of the parties in fierce conflict. After receiving the bankruptcy case, the Zhengzhou High-Tech District Court did not simply break the case, but applied strategies to the case and guided the enterprise to undergo bankruptcy reorganization according to its advantages. On September 9, 2016, the court issued a ruling approving the reorganization plan, and the reorganization of Dadi Agricultural Chemical Co. During the reorganization period, Dadi Agrochemical updated its environmental protection equipment, created some profits and resumed full production. After the reorganization, the enterprise was relieved of about 75 million yuan of debt burden, and the creditor payoff rate was improved, which maximally protected the legitimate interests of employees, creditors and other equity holders. , , and

In the process of hearing bankruptcy cases, the Zhengzhou High-tech District Court adhered to the principle of "protecting the legitimate rights and interests of creditors and debtors, promoting industrial transformation and upgrading", merging and reorganizing as much as possible, liquidating as little as possible, and doing a good job of employee resettlement. The successful handling of the bankruptcy reorganization case of Henan Dadi Agrochemical Co., Ltd. is a vivid practice of the High-tech District Court to save the endangered enterprises after the bankruptcy settlement of Zhengzhou Eisai Pharmaceutical Co. It is also another positive attempt of the court to implement the spirit of "three to go, one to make up and one to reduce" of the Central Economic Work Conference, to make efforts to promote the supply-side structural reform and to promote the sustainable and healthy economic development.

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