Liquidation Or Bankruptcy In Ningbo

Recently, a "liquidation notice" was published on the local media in Ningbo, Zhejiang. It was announced that according to the ruling of Ningbo Yinzhou District people's court, compulsory liquidation of Ningbo real estate company was carried out.

Ningbo's real estate industry and relevant news media have speculated that whether the "lords home" has gone bankrupt?

On the 25 day, the owner of the group of Lords group of Ningbo real estate company responded to an interview with Xinhua news agency. It was a normal liquidation instead of "bankruptcy".

According to the official website of Lords group, the group is one of the large scale and influential modern joint-stock private enterprises in the domestic garment industry, with 16 subsidiaries including clothing, home ownership, energy, import and export trade, science and technology.

Set up a series of clothing design, development, production, sales and foreign trade in one of the Zhejiang Limited by Share Ltd, has joined the ranks of the national sales, profits and taxes hundred strong clothing enterprises.

It is understood that the Ningbo Luo Zi real estate company was founded in July 2002, the Lords group holds 80% equity interest, after this company has established, has developed "the Jiangnan family", "the Jiangnan oasis" and so on residential district.

Lords group responsible person said that due to differences in business philosophy between the company's shareholders, the company has in recent years has stopped the operation of real estate development, the company began in May 2011 liquidation group registration work.

The "liquidation notice" published recently is the necessary legal procedure in the liquidation process of the company.

Reporters arrived in Ningbo on the afternoon of 25, the home office in Ningbo, Sunshine Hotel.

The floor index on the first floor shows that the 12 floor is Ningbo real estate company, but the reporter found on the 12 floor that it has become an office area for other companies. The staff said that the original tenant had moved out 2 years ago.

Lords Group official told reporters that the group is still engaged in real estate development business, mainly to the direction of commercial real estate development.

At present, all the real estate development businesses are operated by the Ningbo lords Construction & Development Co., Ltd., which is separately established by the Lords group.

For lords home is bankruptcy, the reporter contacted the court appointed liquidation group Zhejiang Zhongxin law firm.

Cheng Yu, partner of Zhejiang Zhongxin law firm, told reporters that lords property is not bankruptcy but general liquidation. If it is bankruptcy liquidation, it will write bankruptcy liquidation in liquidation notice, and bankruptcy refers to insolvency, and liquidation is only an internal arrangement made by the company to suspend business.