Who Gets Dongbei Steel?

EO: 东北特钢关键一周:破产可能性不大,谁会最终接盘?
Northeast special steel time is running out.

July 10, is the Northeast Special Steel Group and the bankruptcy administrator to Dalian Intermediate People's Court to apply for a second extension of the draft deadline for submission of reorganization plan.

According to Article 79 of the Bankruptcy Law, the debtor or the manager shall submit the draft of the reorganization plan to the people 's court and the creditors' meeting within six months from the date when the people 's court determines the debtor' s reorganization. If the prescribed period expires, the people 's court may adjudicate for a period of three months if the debtor or the manager requests and has justifiable reasons. Where the debtor or the administrator fails to submit the draft plan for reorganization, the people 's court shall decide to terminate the reorganization procedure and declare the debtor bankrupt.

On July 10, it was the law that allowed the final deadline for the reorganization of the Northeast Special Steel.

From October 10, 2016 to July 10, 2017, a total of 273 days, which is the process of the Northeast special steel reorganization cycle. During this period, around the reorganization, the parties to the Northeast Special Steel and strategic investors and many creditors negotiations stalemate.

Inside the Northeast Special Steel, on the strategic investors, that is, the reorganization of the acquisition of who is who, has been rumors constantly.

On 21 June, an unnamed person from the subsidiary of the Northeast Special Steel Company told the Economic Observer that since the end of last year, the Anshan Iron and Steel Group and the Northeast Special Steel have been in constant contact with each other during this period. Anshan Iron and Steel can pick up the rumors of the Northeast Special Steel.

The company where the people, during this period with a total of two positive contact with Anshan Iron and Steel, respectively, the Northeast Iron and Steel Company of the assets of the assessment and audit. The person reported to the Economic Observer, in addition to Anshan Iron and Steel, there is no other intention to investors at the level of the subsidiary had a similar contact.

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