New progress has been made in the bankruptcy liquidation case of Zhongzhi Group.
On February 2, the official WeChat of Zhongzhi Enterprise Group pushed the "Announcement and Operation Guidelines for the Declaration of Creditor's Rights of Zhongzhi Enterprise Group".
According to the announcement of Beijing No. 1 Intermediate People's Court, the creditors of Zhongzhi Enterprise Group*** shall declare their claims to the administrator in an off-site manner before April 5, 2024. The 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.
According to the announcement, if the creditor's rights are not declared before April 5, the supplementary declaration can be made 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.
In addition, the time and method of convening the first creditors' meeting of the bankruptcy liquidation case of Zhongzhi Enterprise Group will be notified separately by the Beijing No. 1 Intermediate People's Court, and the debtor or property holder of Zhongzhi Enterprise Group shall pay off the debts or deliver the property to the administrator.
In retrospect, in August 2023, the four major wealth management companies under the "Zhongzhi system" postponed their payments, which attracted market attention.
In November 2023, Zhongzhi Group exposed its own risks and issued a "Letter of Apology to Investors", showing that the preliminary due diligence of intermediaries found that, first, the book amount of the group's total assets was estimated to be about 200 billion yuan according to the simulated merger caliber of intermediaries. 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.
In November last year, according to the Chaoyang Branch of the Beijing Municipal Public Security Bureau, recently, 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, and took criminal coercive measures against Xie Moumou and other criminal suspects.
On January 5, 2024, the Beijing No. 1 Intermediate People's Court announced 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 review, the Beijing No. 1 Intermediate People's Court believed that the application met the bankruptcy reasons stipulated in Article 2, Paragraph 1 of the Enterprise Bankruptcy Law of the People's Republic of China, so it ruled to accept the bankruptcy liquidation application of Zhongzhi Enterprise Group.
In addition, 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. It is understood that Mr. Zheng Zhibin is a well-known bankruptcy law expert, who has been engaged in bankruptcy and reorganization business for more than 20 years, and has undertaken hundreds of bankruptcy cases such as Wuxi Suntech and China Erzhong. The explosion of the planting system also involved the directors, supervisors and senior executives of a number of listed companies. In November 2023, Ma Hongying, chairman of Meijim, and Ma Changshui, chairman of *ST Tianshan, lost contact, and public information shows that Ma Changshui served as the vice president of Zhongzhi Group and also served as the director of ST Yushun, and Ma Hongying is currently the chief financial officer of Zhongzhi Group. Subsequently, in December last year, ST Yushun and Zhu Gujia, chairman of the board of supervisors of Haochen Medical and an executive with a background in the planting department, could not get in touch. Read moreSuddenly! The two A-share companies announced: the chairman is out of touch! All have a background of planting in the middle of the plant
Editor-in-charge: Zhang Qianyao Proofreader: Gao Yuan.
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