27
Dec
05:04
Xilin Steel creditors approve Jianlong's reorganisation plan
Yichun Intermediate People's Court ruled on Monday night to approve Jianlong Group to implement a restructuring plan for Xilin Steel. This means that Jianlong Group will invest more than CNY 7 billion ($1.02 billion) in Xilin to allow it to pay off debts and return to normal operation, Kallanish notes.
The Jianlong Group restructuring plan shows that the principal amount of employee claims and tax claims will be 100% paid off. The principal amount …
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Anonymous
Very good overview of the weekly steel market.
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