The progress of "rotten tail" projects such as Cangshan Lijia Special Zone Mansion, Minhou Aolai Times, and Fuqing Lijia Center has always been in the hearts of the owners. Recently, Fujian Daily published an "Announcement on the Disposal of 4 Creditor's Rights Asset Packages including Lijia Industrial (Fujian) Group Co., Ltd." According to the announcement, 4 debt asset packages including Lijia Industrial Group were successfully auctioned for 2.277 billion yuan, and companies such as Beijing Huaxia Wansheng became the takeover party.
Screenshot of Fujian Daily
It is reported that the Fujian Branch of China Cinda Asset Management Co., Ltd. (hereinafter referred to as "China Cinda Fujian Branch") has conducted an open bidding activity on the Taobao Asset Bidding Network Platform of China Cinda Fujian Branch from 10:00 on September 30, 2020 to 10:00 on October 1, 2020, and only one bidder (bidding number Y9481) bid 2277 million yuan. As of June 30, 2020, the disposal base date, the principal amount of the asset-clad claims was RMB2,937,331,600, the grace compensation for restructuring was RMB191,299,900, the liquidated damages were RMB817,675,700, and the preservation fee was RMB25,000, totaling RMB3,946,332,200. In addition, the disposal does not include litigation costs of 19.1662 million yuan.
The corresponding guarantee methods of the claims in the asset package include the mortgage guarantee for the land use right, the mortgage guarantee for the project under construction, the equity pledge guarantee, and the guarantee guarantee for the enterprise legal person and natural person. The four debtors of the debt asset package are Lijia Industrial (Fujian) Group Co., Ltd., Lijia (Fujian) International Trade Co., Ltd., Fujian Outlets Famous Brand Discount City Co., Ltd., and Lanzhou Yuansen Real Estate Development Co., Ltd., and the mortgage guarantee involves the Lijia Strait Commercial City Project and the Tianze Outlets City Plaza Project.
In fact, since last year, there have been rumors that Tianze Oleai era has been acquired by a large company in Beijing, the contract has been signed, and asset restructuring is underway. This announcement undoubtedly gave the owners a "reassuring pill". So, what is the current progress of the Cangshan Lijia Special Zone Mansion, the Minhou Aolai Era, and the Fuqing Lijia Center project?
1. Riga Special Administrative Region Residence
The Lijia Special Administrative Region Mansion project is located at No. 7 Tianshui Road, Gaishan Town, Cangshan District, due to the rupture of the capital chain of Lijia Industrial Group and the huge debt, since the suspension of work in early 2019, the delay has been more than a year and has not been able to deliver new houses to customers.
According to the latest reply of the Fuzhou Municipal Housing Security and Real Estate Administration Bureau, the municipal government has set up a special class for the Municipal Construction Bureau, the Municipal Housing Management Bureau, the Municipal Financial Office, the Municipal Intermediate Court and the Construction Bank to coordinate the restoration of construction. Because the project involves a large number of creditor's rights and debts disputes, it is necessary for various departments to gradually investigate and verify, and gradually coordinate the cooperation of various creditors to resolve them before there is any hope of resuming construction.
In addition, according to the official Weibo news, Lijia Industrial (Fujian) Group Co., Ltd. has recently received the latest developments in the appointment of senior personnel, and the agreement signed with the construction party China Railway Eleventh Bureau has also been exposed online, which means that the Lijia Special Administrative Region Mansion project may be expected to be "restarted" in recent years.
Second, the era of Tenzawa Ole
The Tianze Aolai Times Project, located at No. 88 Futong Road, Nantong Town, Minhou County, also belongs to Lijia Industrial Group, and according to the contract, it should have been delivered in December 2018, but it has been delayed for nearly two years.
According to the latest reply of the Housing and Urban-Rural Development Bureau of Minhou County at the beginning of this month, Minhou County has set up a pre-reorganization liquidation team of Fujian Outlets Famous Brand Discount City Co., Ltd., and some buyers have submitted a bankruptcy application for Oleai Company to the Fuzhou Intermediate People's Court, and the Intermediate People's Court held a hearing on the bankruptcy case of Ole project on June 16, and the bankruptcy case is under trial.
In addition, Cinda Company has also accelerated the disposal of the debt asset package of Oleai Company, and required the intended new investors to pay a bidding deposit of 100 million yuan, at present, Cinda Company has received a bidding deposit from an interested new investor, which is expected to accelerate the asset restructuring and resumption of work of the project.
3. Fuqing Lijia Center
Lijia Central Area A is located in Yinxi Village, Yinxi Street, and has been delivering houses for more than two years, and it is still impossible to register the real estate of buyers.
According to the latest reply of fuqing housing and urban-rural development bureau on the official website of 12345, due to the impact of the debt of Lijia Group, the construction site of Fuqing Lijia Center is currently in a state of suspension, and Lijia (Fuqing) Company is actively coordinating with various creditors and cooperating with relevant departments to deal with related matters.