Bohai Steel Group initiates bankruptcy reorganization
2018-08-29 17:10:36 [Print]
The Higher People's Court of Tianjin ruled on August 24 to accept the application for bankruptcy reorganization of Bohai Steel Group from creditor Tianjin Seri Machinery Equipment Corporation Limited, and Bohai Steel Group formally initiated bankruptcy reorganization, which means that its reorganization and restructuring took a key step, and the disposal of equity and creditor's rights went on the road of marketization and rule of law.
Bohai Steel Group, as a large state-owned steel enterprise, was founded in 2010 and was integrated by Tianjin Iron and Steel Group Co., Ltd. Tianjin Metallurgical Group Co., Ltd., and Tianjin Tiantie Metallurgical Group Co., Ltd., and etc. Influenced by many factors, the company fell into trouble in production and business operation in recent years and its bankruptcy reorganization involves 48 enterprises distributed in Tianjin and Hebei.
Bohai Steel Group, as a large state-owned steel enterprise, was founded in 2010 and was integrated by Tianjin Iron and Steel Group Co., Ltd. Tianjin Metallurgical Group Co., Ltd., and Tianjin Tiantie Metallurgical Group Co., Ltd., and etc. Influenced by many factors, the company fell into trouble in production and business operation in recent years and its bankruptcy reorganization involves 48 enterprises distributed in Tianjin and Hebei.
