Intense Jostling over an Indebted Steelmaker

(Beijing) – A day of reckoning is fast approaching at Bohai Steel, a financially crippled steelmaker that has idled two-thirds of its production lines and cannot repay the 192 billion yuan it owes to more than 100 creditors.

But in the run-up to the reckoning, intense jostling among steel executives, government officials, bankers and others engaged in talks over Bohai's debt has made it impossible to predict what the future holds.