On April 18 this year, the debt distribution meeting of Hunan Hanrui New Material Technology Co., Ltd. was held in the Guzhang County People's Court. A collegial panel composed of Li Zhiwei, as the presiding judge, an administrator and some creditor representatives attended the meeting.
Li Ying Peng Feiying
"If it weren't for the timely intervention of the court, the wages owed to more than 200 of our employees would not have been known to be available in the Year of the Monkey." Zhang Rengui, a former employee of Hanrui New Material Technology Co., Ltd. (hereinafter referred to as Hanrui Company), who successfully received the salary payment, told reporters.
"From the completion of an output value of about 120 million yuan in two years, generating nearly 10 million taxes, and having more than 230 employees at most, the output value has fallen below 20 million yuan in a few years, and the tax revenue is less than one million yuan." But through our efforts, this company finally began to rejuvenate. Judge Mao Yaqi, who participated in the bankruptcy reorganization case of Hanrui Company, was deeply moved.
Within one year of the approval of Hanrui's reorganization plan, the administrator of the case disbursed all the confirmed claims in place. At this point, the reorganization plan of the case has been fulfilled, and Hanrui Company will resume work and production at the end of September this year.
"The successful implementation of the reorganization plan of this case is an exploration and attempt to take the rule of law as the lead, innovation as the element, truly alleviate the crisis of enterprises as the key, and optimize the business environment as the purpose." It accurately grasps and applies the judicial concept of compliance, legality and purposefulness, and embodies the function and value of the restructuring system to achieve a win-win situation for all parties. Li Zhiwei, secretary of the party group and president of the Guzhang County People's Court, said.
Bankruptcy reorganization of key enterprises
Cases of crisis shall be accepted in accordance with law
Hanrui was established in 2011 and officially completed and put into operation at the end of 2015. It is an enterprise engaged in ore mining, smelting and processing, and is also the only enterprise engaged in vanadium industry processing in Xiangxi that has obtained administrative approval procedures such as vanadium ore mining and smelting processing.
Due to poor enterprise management, Hanrui announced the suspension of production in September 2019, and nearly 10,000 tons of wastewater generated during production were stored in the factory, forming a huge environmental protection and safety hazard. In this regard, the People's Government of Guzhang County specially sent personnel to communicate and coordinate with the relevant responsible persons of Hanrui Company without success. Before the Spring Festival in 2020, Hunan Hanrui owed more than 200 employees wages, the longest for more than 9 months, with a total of more than 4 million yuan, resulting in a large number of employees and migrant workers petitioning; A large number of suppliers and customers were in arrears, and many went to court to file lawsuits and applied to freeze Hunan Hanrui's accounts and assets. In January 2020, some creditors applied to the court for Hanrui for bankruptcy reorganization.
The leading group of the county court is well aware that from the situation obtained in the early stage, Hanrui Company has experience in ore mining and processing and approval procedures, and has reorganization value, and doing a good job in relevant work is of great significance to the important strategic deployment determined by the county party committee and the county government to undertake the "three highs and four new" of the provincial party committee, the "three districts and two places" and "five Xiangxi" of the prefecture party committee, and to build a "tens of billions of high-tech vanadium industry" cluster.
"We accelerate the restructuring of difficult enterprises, coordinate and resolve relevant issues in the bankruptcy disposal of enterprises, smooth the communication channels between the court and the government, and actively and quickly handle them." Li Zhiwei introduced that on February 17, 2020, the court ruled that it accepted the bankruptcy reorganization case of Hanrui Company, appointed an administrator in accordance with the law, supported and guaranteed the administrator's performance of duties in accordance with the law, and actively performed the duties of supervision and guidance of the bankruptcy administrator, arranged for the case-handling judge and responsible comrades of relevant departments to stay in Hanrui Company for a long time, timely communicated and dealt with key issues in the process of handling the case, studied and understood the relevant situation of the enterprise, held creditors' meetings for many times, took the pulse on the spot, and identified the main points and difficulties in the trial of this casePain point. Adhere to the problem-oriented approach, and steadily advance the trial of cases with "one question and one policy".
Activate the coordination mechanism of the government and the court to reasonably solve the problem of reorganization (small standard)
At the same time, the county court actively communicates and reports with the county party committee, the county government and the higher courts, and explores the establishment of a coordination mechanism between the government and the court.
Among them, the "Notice on the Establishment of a Coordination Mechanism for Enterprise Bankruptcy Disposal Governments" was issued with the county government, with the standing committee of the county party committee and the executive deputy county governor as the general convener, to comprehensively solve the problems of risk prevention and asset disposal of enterprises in the process of bankruptcy reorganization. According to the institutional arrangement of the coordination mechanism, the county party committee, the county government and the county court specially set up the Hunan Hanrui Bankrui Bankruptcy Coordination Leading Group, and the main leaders of the county party committee and the county government organized coordination meetings for many times to coordinate and handle problems related to social stability, environmental safety, production safety, and the application of law that may arise in the process of handling the case, and led the team to report to the higher party committee government and the higher court to seek policy support and legal guidance. The county government coordinated and seconded funds to Hanrui specifically for issues such as migrant workers' wages and wastewater treatment.
The provincial and prefecture courts and the Guzhang County Party Committee and the county government believe that the purpose of enterprise bankruptcy reorganization is to revitalize the enterprise to maintain the operating value of the enterprise under the premise of protecting the interests of creditors, so that it can better contribute to the local economic development.
Introduce powerful investors to achieve the goal of enterprise rebirth (small standard)
"Under the guidance of the Xiangxi Intermediate Court, the Guzhang County Court, which accepted the case, quickly concluded 18 bankruptcy claim confirmation cases within one month. In the end, the bankruptcy reorganization case of Hanrui Company was successfully introduced with the support of the government. Wu Daishuang, president of the second civil trial division of the Xiangxi Intermediate People's Court, said.
Combined with the opinions of the provincial and prefectural courts and the actual situation of this case, Beijing Youli Company, which has mining productivity, was introduced to participate in the restructuring of Hanrui Company through the best of the best. The county court ruled to approve the Draft Reorganization Plan of Hunan Hanrui New Material Technology Co., Ltd. and terminated the reorganization procedure of Hanrui Company in accordance with the law.
After the approval of the reorganization draft, Hanrui Company paid 60 million yuan to creditors in a timely manner, and the interests of creditors were maximized.
In July 2022, Beijing Youli Company, a restructuring investor, entered Hanrui Company, and made detailed and comprehensive plans for the mining of the mine and the transformation of the original production equipment based on the actual situation of the company.
On April 18, 2023, the administrator paid the arrears to the creditors in accordance with the restructuring agreement, the restructuring investors had fully fulfilled their obligations in accordance with the restructuring agreement, the time limit for the administrator to perform its regulatory obligations expired, and all matters of the restructuring of Hanrui Company had been completed.
At present, Hanrui Company has completed the land acquisition of mining land, the mine infrastructure project is about to be completed, the main equipment of the original smelter old equipment upgrading project has been installed, the ignition test collection began on September 25, and it is planned to officially put into trial production in mid-to-late October. It is expected that after the official operation, it can achieve the production target of 3,850 tons of vanadium pentoxide per year, and it is expected that the annual sales of the first phase can reach 1.2 billion yuan, which can pay 100 million yuan in taxes to the government every year and provide more than 200 jobs for the surrounding areas.
"In the next step, our hospital will continue to strengthen supervision, guide and help enterprises to do a good job in resuming work and production, and actively report to the county party committee and county government, coordinate with relevant county and town departments to give more support to Hanrui, continue to optimize the business environment based on the rule of law, and provide judicial services and guarantees for the high-quality development of the county economy." Li Zhiwei's words were loud.
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