52Billion debt crushed Guangxi nonferrous settlement rate or lower than 20%– energy — people.|Billion debt crushed Guangxi nonferrous settlement rate or lower than 20%– energy — people.0

Billion debt crushed Guangxi nonferrous   settlement rate or lower than 20%– energy — people.com.cn original title: "overwhelmed" Guangxi nonferrous billion debt debt restructuring for half a year long Guangxi Nonferrous Metals Group (hereinafter referred to as "Guangxi color") eventually escape bankruptcy results. The Guangxi Zhuang Autonomous Region Nanning City Intermediate People’s court before the announcement, Guangxi nonferrous metals due to resolve nearly billion debt risk and formally into liquidation, become the first person to bankrupt liquidation of enterprises issuing bonds in China interbank market. The debt of over ten billion into bankruptcy, the Nanning City Intermediate People’s court before the announcement, "because of the Guangxi Nonferrous Metals Group Co. and management failed in the people’s court within six months from the date of the draft reorganization plan since reforming, nor the request, the hospital on September 12, 2016 in accordance with paragraph third of" enterprise bankruptcy law "People’s Republic of China seventy-ninth in accordance with the provisions of the decision to terminate the Guangxi nonferrous metal company reorganization procedure and declare that Guangxi Nonferrous Metals Group Co. bankruptcy". As for the specific bankruptcy liquidation plan, the announcement is not clear. According to earlier media published a "Guangxi nonferrous metals group appraisal project for bankruptcy property (Draft)", the Guangxi nonferrous will not take the whole package of the auction, but directly split. The valuation of 963 million yuan of colored building will take the whole set of change; open the country shares, Nanning credit cooperatives Siyuan shares realized separately. Take the whole collection of accounts receivable on long-term equity investment as a whole; execution based, supplemented by the principle of partition disposal. Guangxi nonferrous bankruptcy crisis began last year, bond payment risk. June 5, 2015, the company announced that the company due to huge losses, is about to expire in June 13, 2015 to honor the votes in the 12 GUI colored MTN1 payment uncertainty. The bill was subsequently paid off by the creditors. However, in November 5, 2015 and in February 27, 2016 due to the payment of non-public directional debt financing instruments 14 GUI colored PPN003 and 13 GUI colored PPN001 ultimately failed to honor. According to the pre assessment report a manager issued by the reporter obtained shows, Guangxi nonferrous general assets of the pre assessment of the value of 5 billion 974 million yuan, including 1 billion 183 million yuan of current assets and non current assets 4 billion 790 million yuan. At present, the confirmation of the Guangxi nonferrous debt is 14 billion 514 million yuan, including the mortgage of $3 billion 936 million of senior debt and ordinary debt of $10 billion 578 million. In this regard, the joint credit rating Co. senior analyst Liu Yan said that the Guangxi nonferrous metals to bankruptcy liquidation point mainly because Guangxi nonferrous asset liability ratio as high as 216.77%, the disposal of assets value is not high, or bankruptcy reorganization will make it eventually become a zombie companies, is likely to lead to the loss of state-owned assets; in addition, in recent years, gradually breaking the rigid payment market, tolerance of default and loss degree rising, bankruptcy will not necessarily bring great impact on the market, the possibility of systemic risk is not)