On December 28, Zotye Automobile Co.Ltd(000980) announced that the company received the civil ruling of Jinhua intermediate people’s Court (hereinafter referred to as “Jinhua intermediate people’s court”) on December 28, 2021. Jinhua intermediate people’s court ruled that the implementation of Zhongtai automobile restructuring plan was completed.
On November 30, Zotye Automobile Co.Ltd(000980) announced that according to Article 86 of the enterprise bankruptcy law of the people’s Republic of China, the company submitted an application to Jinhua intermediate people’s court for ruling and approving the reorganization plan of Zhongtai automobile. On November 30, 2021, the company received the civil ruling (2021) zhe 07 Po No. 13 served by Jinhua intermediate people’s court, which ruled to approve the reorganization plan of Zhongtai automobile and terminate the reorganization procedure of Zhongtai automobile.
Zotye Automobile Co.Ltd(000980) said that after Jinhua intermediate people’s court ruled to approve the reorganization plan, the company entered the implementation stage of the reorganization plan, which is implemented by the company. Under the supervision of the manager, the company will promote the implementation of the reorganization plan in accordance with the law and in strict accordance with the provisions of the reorganization plan, so as to ensure that the reorganization plan is implemented in accordance with the law, efficiently and within the legal time limit.
On October 26, Zotye Automobile Co.Ltd(000980) (000980) announced on October 26 that up to now, all the 2 billion restructuring investment funds payable by investors have been paid in place. However, it is still possible that the draft restructuring plan has not been voted by the creditors’ meeting and the investors’ meeting and the court has not ruled and approved. It is uncertain whether the company’s restructuring is successful.
On October 8, Zotye Automobile Co.Ltd(000980) announced that on September 30, 2021, according to the evaluation and voting results, Jiangsu Shenshang Holding Group Co., Ltd. (“Jiangsu Shenshang”) was finally determined as the company’s restructuring investor, and Shanghai Tiqi automobile technology partnership (limited partnership) and Hunan zhibozhi automobile equity investment partnership (limited partnership) were selected as the company’s subsequent alternative restructuring investors.
(caijing.com)
