Government Agencies Made Administrators of Dongbei Bankruptcy

By Zhang Yuzhe and Dong Tongjian

(Beijing) — A court in Dalian has put government entities in charge of the bankruptcy of China's largest special steel producer, a move that sources say has created anxiety among creditors who fear their rights may be undermined by local officials.

Dongbei Special Steel Group convened bondholders Wednesday afternoon to reveal a court document that designated Liaoning provincial government authorities the bankruptcy administrators of the steel maker, according to creditors who were present and saw the document.

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