Caixin Global普通文章配图文章 Guangxi Nonferrous Metals Gets Court OK to Liquidate
09.20.2016 18:58

Guangxi Nonferrous Metals Gets Court OK to Liquidate

Regional company becomes first SOE to collapse after defaulting in interbank bond market
By Zhang Yu, Huang Kaixi and Chen Na

(Beijing) — A regional metals company has become China's first interbank bond issuer to go bankrupt, Caixin has learned — a 14.51 billion yuan ($2.2 billion) meltdown that deals a blow to creditors, employees and bond markets.

Nine months after state-owned Guangxi Nonferrous Metals Group filed for bankruptcy, a Nanning court on Sept. 12 granted the company's application to liquidate, according to a court document viewed by Caixin.

We hope you have enjoyed your free articles for the month
REGISTER to get 5 more free articles, or SUBSCRIBE to get full access to Caixin
Already a subscriber? Log in now