Resolve a bankruptcy reorganization case to revive the entire technology industry park
2024-04-01
"At present, there are only over 900 square meters of factory buildings remaining in the park that have not been rented out, and the storage space has been mostly reserved by customers. 35 enterprises have shown good development momentum, with a production value of 670 million yuan last year and a new atmosphere in the new year. This year will definitely have a" good start "! Recently, in the Weiren Technology Industrial Park located in Lujia Town, Kunshan City, Jiangsu Province, enterprises are rushing orders, busy production, and running recruitment, creating a bustling scene. Yang Yun, the person in charge of the industrial park, confidently told reporters," After experiencing pain and suffering, the park will definitely undergo a 'butterfly transformation and rebirth'! "It is hard to imagine that this vibrant industrial park in front of us was on the brink of bankruptcy a few months ago due to debt problems.". In November 2023, the People's Court of Kunshan City promoted the establishment of an Enterprise Reorganization Service Center, and the first bankruptcy case handled - the bankruptcy reorganization case of Jiangsu Weiren Clothing Co., Ltd. (hereinafter referred to as Weiren Company) achieved good legal and social effects. The expansion of the industrial park is in crisis. Weiren Company was founded in May 2000. Originally a high-end clothing production and sales enterprise, it gradually transformed into Weiren Technology Industrial Park and engaged in factory leasing business. The industrial park covers an area of 28000 square meters, with a construction area of nearly 83000 square meters. More than 30 enterprises, including 4 high-tech enterprises, have settled in the park for a long time, with a total of over 600 employees and an annual tax payment of about 40 million yuan. It is one of the high-quality industrial parks in the region. In 2022, Weiren Company encountered financial difficulties due to blind expansion and fell into a debt crisis, with a total debt of about 300 million yuan owed to banks for mortgage loans, project payments, and other types of debts. Relevant cases have gradually entered the trial and enforcement procedures of Kunshan Court. "When we heard this news, we were very worried. Kunshan Longtai Automotive Parts Co., Ltd. is the largest enterprise in the industrial park. Lu Jianghui, the HR and administrative manager of the company, said that if the industrial park is disposed of by the court, the enterprise will have to search for new factories and warehouses, renovate and relocate equipment, which not only increases huge costs, but also seriously affects production progress and enterprise efficiency.". "The debt crisis of Weiren Company has attracted our high attention. If it is enforced, the companies that originally attracted investment into the park may have to move out, and where will more than 600 employees go? This can easily cause many social conflicts." Wang Baojun, Deputy Mayor of Lujia Town, introduced that the court also timely consulted with the local government, hoping to strengthen the linkage between the government and the court to handle the "Weiren crisis" smoothly. Yuan Xiaopeng, the executive judge of the Weiren Company series of cases, sought the "best solution" that takes into account the interests of all parties. After his first on-site investigation in the industrial park, he was also lost in thought and decided to suspend the execution announcement procedure. "At that time, more than 30 enterprises in the park were operating normally. If the auction process was directly initiated, it would have a negative impact on employee employment, upstream and downstream industrial chains, and taxation, which was not conducive to market operation and the healthy development of enterprises. Therefore, better solutions must be found." said Yuan Xiaopeng. In order to promote the comprehensive resolution of trial and enforcement cases, reduce enforcement cases from the source, achieve a win-win situation for debt repayment and industrial park development, the enforcement judge timely transfers the cases to the Enterprise Restructuring Service Center for analysis and judgment in accordance with the "integration of filing, trial, enforcement, and resolution" working mechanism.
Edit：Jia jia Responsible editor：Yi Yi
Source：http://rmfyb.chinacourt.org
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