"钧多立" restructuring progress: Mao Guofan and creditors disagree
The multi-issue event has brought great shock to the semiconductor lighting industry and enterprises, and its reasons are generally considered to be related to its blind expansion. In 2010, the company plans to invest 400 million yuan in Sichuan Shuangliu to build LED packaging application related projects. At the same time, there are several other bases to be built. This is obviously irrational for the more than 20 million registered capital.
At present, the B building of Wenyu Science and Technology Park in Shiyan Street, Baoan, Shenzhen, has a six-storey building with a building area of ​​about 10,000 square meters. It has been settled by another LED company, but the words “钧多立公å¸â€ The imprint is also clearly visible.
In an interview with Chen Guofan, who returned to Shenzhen for nearly a month, he pointed out that Duo Duoli was only not properly disposed of in some "details". The incident seemed to be "bursty and accidental", but there was inevitability behind it.
Restructuring still faces huge risks
According to the “Reorganization Plan of the Duo Duo Enterprise Group†(discussion draft): a shell company was established, and the shares under Mao’s name and its sub-names were transferred to the company, and the multiple original creditors jointly held shares according to the proportion of claims. At the same time, as Mao Guozhen agreed, Mao can continue to serve as the “chief CEO†of the restructured company, but the executive CEO and financial controller are output by the promoters and creditors.
On the morning of November 4, the first meeting of the creditors of Duo Duoli was held. 33 creditors of the 35 creditors who participated in the meeting voted to establish the Judicial Creditor Committee to handle debts and debts and subsequent reorganization.
The Deputy Secretary-General of the Promotion Association, Bao Enzhong, introduced that among the various debts of the company, the guarantee company has more than 50 million yuan, the supplier has more than 20 million yuan, and the partners have more than 10 million yuan, adding up to nearly 100 million yuan. The company's assets are only more than 50 million yuan. If it is discounted, it will be less than 30 million yuan. It has been insolvent, and restructuring is the only way out.
However, in the process of restructuring, Mao’s disagreement with creditors is not small. "Investors and investors do not have a common language," Mao Guozhen directly pointed out, "I hope to seize the opportunity of the LED season, return to work as soon as possible, every second counts."
On the creditor side, the reorganization was based on the premise of auditing Duo Li, and detailed investigation of the previous funds. In Mao Guozhen’s view, although the creditor’s approach is “understoodâ€, this “step-by-step procedure†will lead to the loss of the best restructuring opportunity.
Among the existing assets, the most valuable property is more than 20 million yuan. Although the equipment is evaluated at a higher price, "but if you take it to the market, it will be worth millions. It is not bad for creditors to realize 20% of their claims." Bowen said that from November 4th, the creditor committee will be valid for three months, which will determine the life and death of Duo Duo.
The reorganization of Duo Duo faces enormous risks, but Mao’s confidence seems to have recovered. In the interview, he used the experience of Shi Yuzhu to realize the "re-emergence of the mountains." This month, I was surrounded by seven or eight big men, attacked by various rumors, and hundreds of millions of nets have now become pockets. 10,000 yuan, painstakingly, I should stand up and face the responsibility."
At present, the B building of Wenyu Science and Technology Park in Shiyan Street, Baoan, Shenzhen, has a six-storey building with a building area of ​​about 10,000 square meters. It has been settled by another LED company, but the words “钧多立公å¸â€ The imprint is also clearly visible.
In an interview with Chen Guofan, who returned to Shenzhen for nearly a month, he pointed out that Duo Duoli was only not properly disposed of in some "details". The incident seemed to be "bursty and accidental", but there was inevitability behind it.
Restructuring still faces huge risks
According to the “Reorganization Plan of the Duo Duo Enterprise Group†(discussion draft): a shell company was established, and the shares under Mao’s name and its sub-names were transferred to the company, and the multiple original creditors jointly held shares according to the proportion of claims. At the same time, as Mao Guozhen agreed, Mao can continue to serve as the “chief CEO†of the restructured company, but the executive CEO and financial controller are output by the promoters and creditors.
On the morning of November 4, the first meeting of the creditors of Duo Duoli was held. 33 creditors of the 35 creditors who participated in the meeting voted to establish the Judicial Creditor Committee to handle debts and debts and subsequent reorganization.
The Deputy Secretary-General of the Promotion Association, Bao Enzhong, introduced that among the various debts of the company, the guarantee company has more than 50 million yuan, the supplier has more than 20 million yuan, and the partners have more than 10 million yuan, adding up to nearly 100 million yuan. The company's assets are only more than 50 million yuan. If it is discounted, it will be less than 30 million yuan. It has been insolvent, and restructuring is the only way out.
However, in the process of restructuring, Mao’s disagreement with creditors is not small. "Investors and investors do not have a common language," Mao Guozhen directly pointed out, "I hope to seize the opportunity of the LED season, return to work as soon as possible, every second counts."
On the creditor side, the reorganization was based on the premise of auditing Duo Li, and detailed investigation of the previous funds. In Mao Guozhen’s view, although the creditor’s approach is “understoodâ€, this “step-by-step procedure†will lead to the loss of the best restructuring opportunity.
Among the existing assets, the most valuable property is more than 20 million yuan. Although the equipment is evaluated at a higher price, "but if you take it to the market, it will be worth millions. It is not bad for creditors to realize 20% of their claims." Bowen said that from November 4th, the creditor committee will be valid for three months, which will determine the life and death of Duo Duo.
The reorganization of Duo Duo faces enormous risks, but Mao’s confidence seems to have recovered. In the interview, he used the experience of Shi Yuzhu to realize the "re-emergence of the mountains." This month, I was surrounded by seven or eight big men, attacked by various rumors, and hundreds of millions of nets have now become pockets. 10,000 yuan, painstakingly, I should stand up and face the responsibility."
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