Rome Family 152 Million Restructuring Of The Central Bank Expects The Average Debt Repayment Rate Of 10%

Recently, with the emergence of the Rome family of the restructure of the odd group, the draft of the restructuring plan of concern has also surfaced.

After the restructuring of the company, the draft restructuring plan will be announced in the near future.

Last Friday, he announced a restructuring agreement signed with the Rome family, which will become an important basis for the draft reorganization plan.

The restructuring agreement shows that the investor is Rome Shijia (Tianjin) clothing and clothing Sales Co., Ltd., holding 99% of Rome's Shijia dress and adornment (Beijing) Co., Ltd.

The family of Rome paid 152 million 720 thousand yuan for the investment amount (including assets investment and stock investment) to no more than RMB $152 million 720 thousand, and earned 51% of the main operating assets and the total share capital of the company.

And the original shareholders of the company will retain only a small share of the shares.

Among them, the family of Rome will retain the main operating assets (including mortgaged property) with no more than 72 million 720 thousand yuan.

The managing director will appoint a valuer to assess company assets if assets.

Less than 72 million 720 thousand yuan, investors must pay the corresponding assets investment amount of assets; if the valuation value of assets is higher than 72 million 720 thousand, then the equivalent assets outside 72 million 720 thousand will be allocated to creditors by the auctions of auctioned auctions.

In addition, the Rome family will accept 311504940 shares of domestic stock at 80 million cost, that is, holding 51% of the 51% odd shares, averaging 0.26 yuan, equivalent to 1/4 of the stock price of the odd stock (1 yuan).

At present, Ding Hui and his brothers and sisters, Ding Canyang and Ding Lixia, share 49.6% of the total stake in the national capital.

The family of Rome will be responsible for the resumption of the trading of the group, and appoint the auditors and other professionals to help him reach the resumption conditions and undertake the relevant fees for the resumption of cards.

After the Quanzhou intermediate court approves the draft reorganization plan, the Rome family will take charge of the business of the company and provide the funds needed for subsequent operations according to the business needs.

The family of Rome has already paid a security deposit of 5 million to the odd managers. During the period when the reorganization agreement came into effect and approved the reorganization plan of the Quanzhou intermediate people's court, the Rome family would also provide no more than 5 million interest free loans to maintain the daily operation. If the reorganization is successful, the deposit and loan will be deducted from 152 million 720 thousand of the investment amount.

According to the announcement of the reunion party of the Regional Union,

The introduction of Fang Rome family is aimed at raising debt repayment funds and restoring the normal operation order of the regional stocks with the help of the financial strength and resource advantages of the restructured party.

Nochi was in debt crisis and management dilemma in July last year due to the loss of legal representative Ding Hui. The stock was suspended in July 23, 2014. In April 1st this year, the Quanzhou intermediate people's court ruled that Fujian Nochi's reorganization was accepted according to law. Nochi's first creditors' meeting was held in June 25th. Nearly two hundred creditors from all over the country took part in the meeting, and publicly disclosed Nochi's assets and liabilities for the first time after the suspension of the company.

In the same month, the managers of the region openly solicited the reorganizing party to the public.

In November 26th this year, he signed a reorganization intent agreement with the reorganizing party, marking the substantial progress made by the group.

According to the local staff, the cost of wages and medical treatment, disability allowance, pensions, pension insurance, medical insurance, and social insurance fees and taxes owed by him will be fully reimbursed after the reorganization is successful.

The above 72 million 720 thousand cash and the outstanding stock shall be paid off by the value of the bankruptcy and the common interest debt (the debts arising from the bankruptcy proceedings after the legal acceptance), and the balance of the secured creditor's rights, the employee's claims, the tax claims, and the reserve amount of bankruptcy expenses shall be paid to the general creditors.

A member of the management revealed that the rate of repayment of unsecured ordinary creditors is expected to be around 10%.

The final settlement plan and liquidation ratio will be clarified in the draft reorganization plan.

According to a warm reminder issued by the managing director to the creditors last week, as of October 31, 2015, he had received 226 claims, and the total amount of claims was about 1 billion 531 million yuan.

According to the current situation of creditor's rights review, the total amount of creditor's rights confirmed by the Quanzhou intermediate court has been 267 million yuan. The total amount of claims to be confirmed by the Quanzhou intermediate court is 621 million yuan, and the total amount of claims involving lawfully outstanding debts is about 277 million yuan. In sum, the total amount of effective debt that is included in the liquidation range of the odd shares is estimated to be about 12 billion yuan.

How to repay and how much money has been paid has become a concern for creditors.

According to the above warm reminder, the loan will be paid in three ways, including cash settlement, stock liquidation and asset liquidation.

Cash mainly refers to 72 million 720 thousand of Rome's capital injection mentioned above. After the stock is pferring 51% of the shares of Rome family, the remaining shares (mainly domestic capital stocks) will be allocated to the general creditors according to the proportion of debt. At present, the domestic stock accounts for 73.67%.

The local creditors told reporters that the ordinary creditors of the shares were mainly creditors involved in private lending, which included some well-known local entrepreneurs, and some debts amounted to 100 million. In addition, other assets other than assets retained by the restructured party were invested by the managers, which would be auctioned by the manager according to law. The proceeds would be used to supplement the normal creditors after deducting the bankruptcy costs involved in asset valuation.