The concerned bankruptcy reorganization case of Kangmei is entering the implementation stage, and more than 52000 small and medium-sized investors will be compensated in succession!
On December 21, some investors said at the forum that the stock account had received 34960.36 yuan of compensation from Kangmei pharmaceutical. “Less than 40 days from the sentencing, although it can not compensate for all the losses, this is a great progress in China’s stock market.”
according to the reorganization plan, more than 52000 securities investors who lost less than 500000 yuan will pay directly in cash at one time; Some investors with more than 500000 yuan will compensate in three ways: cash, debt to equity swap and trust rights and interests.
It is understood that investors do not need any operation, and compensation is directly paid to the account like dividends. As the first securities class action case in China, Kangmei case will undoubtedly have a deep impact on the investment ecology of China’s stock market.
some investors received Kangmei compensation
On December 20, after the bankruptcy reorganization plan of Kangmei pharmaceutical was voted by all creditors and approved by the intermediate people’s Court of Jieyang City, Guangdong Province, the bankruptcy reorganization case of Kangmei pharmaceutical entered the implementation stage.
Among them, the economic losses of more than 52000 securities investors and the debts of other creditors will be paid off from December 20.
On December 21, some investors said at the forum that the stock account had received the compensation from Kangmei pharmaceutical. According to the calculation method of damages determined in civil judgment No. 2171, the amount of compensation that should be obtained after deducting the systematic risk factors of the securities market is 34960.36 yuan.
“it is less than 40 days since the sentencing on November 13. Although it can not compensate for all the losses, this is a great progress in China’s stock market. Since then, the counterfeiters have been frightened and the victims have grievances to sue.” The above investors said.
According to the relevant person in charge of Jieyang intermediate people’s court, on December 12, the reorganization investor Shennong partnership and other investor representatives signed an investment confirmation with the manager of Kangmei pharmaceutical, and all the reorganization investment funds have been in place.
According to the reorganization plan, more than 52000 securities investors who have lost less than 500000 yuan will pay directly in cash at one time; Some investors with more than 500000 yuan will compensate in three ways: cash, debt to equity swap and trust rights and interests. The cash and shares will be directly distributed by the manager through Shanghai Branch of China Securities Depository and Clearing Corporation, and the trust interests will be directly registered in the names of investors.
“I don’t need to do anything. Just like dividends, the money will naturally be lost to my stock account.” The investor said.
On November 12 this year, the Guangzhou intermediate people’s court made a first instance judgment on the first securities class action case in China, ordering Kangmei Pharmaceutical Co.Ltd(600518) to compensate 2.459 billion yuan for the loss of securities investors due to infringement of false statements such as annual reports. Ma Xingtian, the former chairman and general manager, five directly responsible persons, Zhengzhong Zhujiang certified public accountants and directly responsible persons shall bear all joint and several liabilities, and 13 relevant responsible persons shall bear some joint and several liabilities according to the degree of fault.
Kangmei pharmaceutical restructuring will be completed by the end of the year
After the judgment and compensation, the follow-up progress of Kangmei pharmaceutical has also attracted much attention.
According to Yangcheng Evening News, Kangmei pharmaceutical’s restructuring is expected to be completed by the end of the year. Ma Xingtian, the original controller of the company, will no longer hold shares of the company and will pay off all debts owed according to law. The non main business assets of Kangmei pharmaceutical will be managed by the trust. The newly incorporated Kangtian company is a trust asset undertaking platform and is stepping up the transfer and delivery of relevant assets.
As the first securities class action case in China, Kangmei case is the civil compensation case of misrepresentation of listed companies with the largest number of plaintiffs and the highest amount of compensation heard by the court so far, which will undoubtedly have a deep impact on the investment ecology of China’s stock market.
After the fall of the Kangmei case, the “resignation tide” of A-share independent directors was triggered for a time because the independent directors were sentenced to joint and several liability. Just when the independent director system is hotly discussed in the market, the amendment of the rules of independent directors has also been put on the agenda.
On November 26, the CSRC recently solicited opinions from the society on 27 normative documents, including the rules for independent directors of listed companies (Draft for comments), which put forward guiding opinions on the employment conditions, election procedures, responsibilities, independence and performance guarantee of independent directors of listed companies.
Liu Junhai, director of the Institute of commercial law of Renmin University of China, said that the Kangmei pharmaceutical case is a milestone in the history of investor rights and interests protection. It really allows listed companies to be grateful to investors, believe in the law and fear risks, so as to optimize the ecological environment of the capital market.
Executed! Kangmei pharmaceutical compensated 2.459 billion yuan! More than 50000 investors were compensated
Kangmei pharmaceutical’s compensation received Investor: I’m very satisfied
(brokerage China)
