Suppliers Sue for Bankruptcy Reorganization of Gionee
Panicked suppliers of Chinese smartphone maker Gionee Communication Equipment Co. sued for a bankruptcy reorganization of the debt-swamped company in hopes of recouping some of their losses.
Nearly 20 suppliers of Shenzhen-based Gionee Tuesday asked the Shenzhen Intermediate People's Court to step in after the second-tier smartphone maker made little progress in months of talks on restructuring billions of yuan in debt.
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