STX Dalian restructuring in progress

Dalian: Dalian Intermediate People’s Court has held the first creditor’s meeting on the restructuring of the bankrupt STX Dalian and its subsidiaries.

Up to now, a total of 1331 creditors of STX Dalian have reported their debt information to the court and STX Dalian has a total of RMB480m of employee salaries in arrears.

Currently the court is selecting new investors and making an overall restructuring plan for all the companies. [14/10/14]

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