* ST Profit Source 17 million Borrowings Overdue and Creditors Apply for Bankruptcy Restructuring

category:Finance
 * ST Profit Source 17 million Borrowings Overdue and Creditors Apply for Bankruptcy Restructuring


Application for bankruptcy reorganization

According to reports, the applicant Liu Mingying and * ST Li originated from the Loan Contract signed on April 2, 2018. The loan amount is 10 million yuan, the borrowing period is two months, and the interest is 1.5 percent of the day. After the signing of the contract, the applicant Liu Mingying transferred 10 million yuan of loan to the designated account of the company in accordance with the contract agreement.

Applicant Li Chunlin and * ST benefit originated from the Loan Contract signed on March 29, 2018. The loan amount is 7 million yuan, the borrowing period is two months, and the interest is 1.5 percent of the day. After signing the contract, the applicant Li Chunlin transferred 7 million yuan of loan to the designated account of the company in accordance with the contract agreement.

After the expiration of the loan contract, the applicants Liu Mingying and Li Chunlin repeatedly appealed to * ST Liyuan for failure and brought a lawsuit to ask the company to repay the principal and interest of the loan.

A large number of bank accounts have been frozen

From April 2018, due to the financing environment and the construction of Shenyang Liyuan, the liquidity shortage of ST Liyuan began to appear. Since then, a series of problems have been exposed. Due to the failure to repay matured debts, corporate debts are overdue and financing costs are increased, resulting in a significant reduction in corporate performance.

Before being applied for bankruptcy reorganization by creditors, a large number of borrowings of * ST interest sources were overdue and were brought to the creditors to sue, resulting in * ST interest sources and subsidiaries including basic accounts, general settlement accounts and many bank account funds were frozen.

* As of July 31, 2019, * ST Liyuan has added 36 frozen accounts and 15.716 million new frozen accounts, 56 frozen bank accounts, 39% of the total number of frozen bank accounts and 50.467 million yuan frozen account funds, according to the announcement issued recently by ST Liyuan. Water accounts for 77.80% of the companys capital flow. The freezing of the companys main bank accounts has a significant impact on the companys production and operation activities, and the company has to use private accounts to collect and expend funds. * The main bank account of ST profit source is frozen to trigger other risk warnings, but since the company stock abbreviation has been changed to * ST profit source before, after triggering other risk warnings, the companys stock abbreviation remains unchanged and remains * ST profit source. Source: Responsible Editor of Securities Times: Yang Bin_NF4368

* As of July 31, 2019, * ST Liyuan has added 36 frozen accounts and 15.716 million new frozen accounts, 56 frozen bank accounts, 39% of the total number of frozen bank accounts and 50.467 million yuan frozen account funds, according to the announcement issued recently by ST Liyuan. Water accounts for 77.80% of the companys capital flow. The freezing of the companys main bank accounts has a significant impact on the companys production and operation activities, and the company has to use private accounts to collect and expend funds.

* The main bank account of ST profit source is frozen to trigger other risk warnings, but since the company stock abbreviation has been changed to * ST profit source before, after triggering other risk warnings, the companys stock abbreviation remains unchanged and remains * ST profit source.