Wang Sicongs panda mutual entertainment enters bankruptcy proceedings and plans to hold a creditors meeting

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 Wang Sicongs panda mutual entertainment enters bankruptcy proceedings and plans to hold a creditors meeting


Wang Sicongs panda mutual entertainment investment has entered the actual bankruptcy proceedings.

On January 5, according to the announcement website of the peoples court, the third intermediate peoples Court of Shanghai issued an announcement that according to the application of Shangrao Yifei Technology Co., Ltd., the court made a civil ruling (2019) Hu 03 Po 299 on November 13, 2019 to accept the bankruptcy and liquidation case of the debtor Shanghai Panda mutual Entertainment Culture Co., Ltd. (panda mutual entertainment), and appointed Shanghai Haihua Yongtai lawyer The office is the manager.

The first creditors meeting of the above bankruptcy case is scheduled to be held at 14:00 on March 19, 2020 in the seventh court of the third intermediate peoples Court of Shanghai (No. 988, zhangheng Road, Pudong New Area, Shanghai).

According to the announcement, the creditor shall, within 60 days from the date of announcement, declare the creditors rights to the administrator and submit relevant supporting materials. Those who fail to declare their claims within the time limit shall be dealt with in accordance with the provisions of Article 56 of the enterprise bankruptcy law of the peoples Republic of China. The debtor or property holder of Shanghai panda mutual Entertainment Culture Co., Ltd. shall pay off the debt or deliver the property to the manager.

According to industrial and commercial data, the applicant Shangrao Yifei Technology Co., Ltd. (Yifei Technology) was established on November 2, 2017 with a registered capital of 1 million yuan and legal representative of Meng Libo. Its business scope includes technology development, technology promotion and technical consultation in the computer field.

On July 19, 2019, a consumption restriction order issued by Shanghai Jingan District Peoples court showed that in the case of Yifei technologys dispute over service contract, it applied to Shanghai Jingan District Peoples court for a consumption restriction order against Longfei, the legal representative of panda mutual entertainment.

Panda mutual entertainment is a live broadcast project company invested by Wang Sicong in 2015. Panda live was the fourth largest live app in terms of market penetration at one time. However, in March 2019, it started to shut down its servers and demobilize its employees.

Since then, Wang Sicong has been listed as the executor by the court for many times due to the dispute with panda mutual entertainment investors. It was not until the end of December 2019 that restrictive consumption orders were successively lifted.

On the morning of December 26, 2019, the actual controller was the price capital of Wang Sicong, the son of Wang Jianlin, the richest man. After dozens of rounds of negotiations in recent two months, price investment reached agreements with dozens of investors, and all investors were compensated. The huge investment loss of nearly 2 billion yuan of panda mutual entertainment was borne by price investment and the actual controller. The company also said that in recent years, it has invested dozens of projects, most of which are successful. The failure of a single project of panda mutual entertainment cannot be regarded as the failure of the whole venture of the company. We will be honest and trustworthy and continue our business. However, on December 26, 2019, the reporter of surging news (www.thepaper. CN) learned that the investors compensated did not include Tianjin junmingce Cultural Communication Center (limited partnership). In addition, panda live still hasnt paid off the salary arrears of guild and anchor. Source: surging news editor: Wang Fengzhi, nt2541

On the morning of December 26, 2019, the actual controller was the price capital of Wang Sicong, the son of Wang Jianlin, the richest man. After dozens of rounds of negotiations in recent two months, price investment reached agreements with dozens of investors, and all investors were compensated. The huge investment loss of nearly 2 billion yuan of panda mutual entertainment was borne by price investment and the actual controller.

The company also said that in recent years, it has invested dozens of projects, most of which are successful. The failure of a single project of panda mutual entertainment cannot be regarded as the failure of the whole venture of the company. We will be honest and trustworthy and continue our business.

However, on December 26, 2019, the reporter of surging news (www.thepaper. CN) learned that the investors compensated did not include Tianjin junmingce Cultural Communication Center (limited partnership). In addition, panda live still hasnt paid off the salary arrears of guild and anchor.