19
Feb
09:20
Haixin debts highlight risk in bankruptcy buyouts
China’s Haixin Iron and Steel intends to ramp up production this year after being bought out of bankruptcy court by northern China’s Jianlong Group. The new owner has been criticised for not meeting its debt commitments after Haixin’s actual debt turned out to be more than double that reported in court documents, Kallanish notes.
Reports suggest 6 million tonnes/year steelmaker Haixin owes almost CNY 25 billion ($3.84 billion) to creditors, com…
This article contains premium data.
It is only available for active subscribers and clients currently
on trial. To continue reading, see the options below.
on trial. To continue reading, see the options below.
Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous