Debt Restructuring Doesn't Work on Hidden Debt

Caixin: Indebted Steelmaker 'Not Making Repayments Agreed upon in 2014'
Shanxi Highsee's creditors have also found that the company is further in debt, owing nearly 25 billion yuan, than it had said earlier, the source said. In November 2014, Li told Xinhua that the firm was 10.5 billion yuan in the red.
The company only has 7 billion yuan in assets, not the 10 billion yuan that Li claimed, the person close to the meetings with Shanxi Highsee said.

No comments:

Post a Comment