China** News Chenxi Zhongzhi Group bankruptcy liquidation case, the latest progress is here! On the afternoon of February 2, the official WeChat of "Zhongzhi Enterprise Group", which had stopped updating for 4 months, pushed the "Announcement and Operation Guidelines for the Declaration of Creditor's Rights of Zhongzhi Enterprise Group". 
According to the announcement, the creditors of Zhongzhi Enterprise Group should declare their claims to the administrator in an off-site manner before April 5, 2024. The bond declaration took the form of online declaration, and Zhongzhi Group posted the operation manual and ** of the PC and mobile phone declaration end in the announcement. Zhongzhi Group revealed its own risk situation in November last year. After the preliminary due diligence of the intermediary agency, it was found that Zhongzhi Group was seriously insolvent and had a significant risk of going concern. In January this year, the Beijing No. 1 Intermediate People's Court ruled to accept the bankruptcy liquidation application of Zhongzhi Group. Declare claims before April 5Distinguish between different creditorsFirst of all, let's take a look at the specific situation of the notice of Zhongzhi Group's creditor's rights declaration: according to the announcement of Beijing No. 1 Intermediate People's Court (2024) Jing 01 Po No. 1, the court made a civil ruling on January 5, 2024, ruling to accept the bankruptcy liquidation case of Zhongzhi Enterprise GroupAnd on January 26 of the same year, Beijing Dacheng Law Firm was appointed as the manager of Zhongzhi Enterprise Group. The creditors of Zhongzhi Enterprise Group*** shall declare their claims to the administrator in an off-site manner before April 5, 2024. The creditor's right declaration adopts the form of online declaration, and paper declaration materials are not accepted, and creditors do not need to go to the site to declare or mail paper declaration materials. In the announcement, Zhongzhi Group posted the operation manual and ** of the PC and mobile phone declaration terminal to guide investors to make online declarations. 
The reporter inquired about the online creditor's rights declaration link in the announcement and found that the declaration was divided into the declaration entrance of Zhongzhi Enterprise Group and the declaration entrance of other entities. When declaring, investors need to fill in the amount of creditor's rights, whether there is property security and whether they are joint and several creditor's rights, and submit relevant supporting materials. After the submitted creditor's rights information and evidentiary materials are reviewed, the review progress will be notified by text message or other means. 
In addition, the announcement mentions that if the creditor's rights are not declared before April 5, they can make a supplementary declaration before the final distribution of the bankruptcy estate, but the distribution that has been made before will not be supplemented and distributed to the supplementary declarant; The expenses incurred in examining and confirming the supplementary declaration of claims shall be borne by the supplementary declarant. If the creditor's rights are not declared in accordance with the law, the rights shall not be exercised in accordance with the procedures stipulated in the Bankruptcy Law. Severely insolventIn January this year, the bankruptcy liquidation was acceptedThe high-profile private capital in the industry is "planted in the system" and is deeply involved in the vortex of bankruptcy and liquidation. According to the official website of Zhongzhi Group, the group holds 8 listed companies and two major mineral groups; It strategically participates in the holding of 6 licensed financial institutions (Zhongrong Trust, Zhongrong**, Hengqin Life Insurance, Hengbang Property Insurance, Zhongrong Huixin**, Zhongrun Financial Services), participates in the holding of 4 wealth management companies (Hengtian Wealth, Xinhu Wealth, Datang Wealth, Gaosheng Wealth), and participates in the holding of 5 asset management companies (Zhonghai Shengrong, Zhongzhi International, Zhongzhi Capital, Shoutuo Rongsheng). In the middle of 2023, a large number of "Zhongzhi" financial products defaulted on payment, which attracted market attention. In November 2023, Zhongzhi Group issued a "Letter of Apology to Investors", apologizing to investors for the successive substantive defaults of the group's related products, and disclosing the carrying amount of total assets, the scale of principal and interest of liabilities and follow-up countermeasures. According to the apology letter, Zhongzhi Group hired an intermediary agency to carry out a comprehensive liquidation of assets and capital after the accident. The preliminary due diligence of the intermediary agency found that: first, according to the simulated merger caliber of the intermediary agency, the book amount of the group's total assets is about 200 billion yuan, because the group's assets are concentrated in debt and equity investment, the duration is long, and the collection is difficult, and it is expected that the amount can be low, the liquidity will be exhausted, and the asset impairment situation will be serious; Second, the scale of debt is huge, and the principal and interest scale of related liabilities after excluding margin is 420 billion yuan to 460 billion yuan. Preliminary due diligence shows that Zhongzhi Group is seriously insolvent, has significant continuing operation risks, and the resources available for debt repayment in the short term are far lower than the overall debt scale. Subsequently, according to Ping An Beijing Chaoyang official WeChat news, the Chaoyang Branch of the Beijing Municipal Public Security Bureau filed a case for investigation of the wealth company belonging to the "Zhongzhi Department" on suspicion of illegal crimes in accordance with the law, and took criminal coercive measures against Xie Moumou and other criminal suspects. 
On January 5, the announcement of the Beijing No. 1 Intermediate People's Court showed that the debtor Zhongzhi Enterprise Group applied to the court for bankruptcy liquidation on the grounds that it could not pay off its due debts, its assets were insufficient to pay off all its debts, and it obviously lacked solvency. After examination, the Beijing No. 1 Intermediate People's Court held that the application met the bankruptcy reasons stipulated in Article 2, Paragraph 1 of the Enterprise Bankruptcy Law of the People's Republic of ChinaTherefore, it was decided to accept the bankruptcy liquidation application of Zhongzhi Enterprise Group。In addition, according to the announcement of the court, Beijing Dacheng Law Firm was appointed as the administrator of the bankruptcy liquidation case of Zhongzhi Enterprise Group, and the person in charge of the administrator was lawyer Zheng Zhibin. Zheng Zhibin is a well-known bankruptcy law expert in the industry, who has been engaged in bankruptcy and restructuring legal services for more than 20 years, and has undertaken hundreds of bankruptcy cases such as Wuxi Suntech and China Erzhong. Editor: Captain Review: Xu Wen.