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Fuyang special paper production enterprise Xinxing paper officially went bankrupt

release date: Source: paper industry internal reference number of Views: 2292 copyright and disclaimer

core tip: on July 3, Hangzhou Fuyang District People's Court issued an announcement, officially ruling that Hangzhou Fuyang Xinxing Paper Co., Ltd., Hangzhou Xinxing Paper Co., Ltd. and Hangzhou Xinwo non woven fabric Co., Ltd. went bankrupt

, The people's Court of Fuyang District of Hangzhou issued an announcement, formally ruling that Hangzhou Fuyang Xinxing Paper Co., Ltd., Hangzhou Xinxing Paper Co., Ltd. and Hangzhou Xinwo non-woven fabric Co., Ltd. were bankrupt

unlike most bankrupt white board enterprises in Fuyang, Xinxing paper industry is a local special paper production enterprise with great characteristics. According to the report of Fuyang in 2017:

"Xinxing paper industry, founded in 1993, is a Sino foreign joint venture specializing in the production of special tissue paper. It is the country's largest export supplier of envelope paper and the manufacturer of low-noise high-end masking tape base paper for the most fatigue experimental machine.

this enterprise originally produced Buddhist paper and low-end paperboard. In the early years, due to its small size, if it did not transform and upgrade, it would face the fate of higher prices of eliminated carbon fiber products. Enterprise The industry has changed its thinking in a timely manner and continuously improved the added value of products through transformation and upgrading. Since 1993, new products have been successfully developed every year. Its research and development of "special paper for automotive surface protective film" is to apply for certification to the European automotive Commission. In recent years, enterprises have successively launched sandpaper, Heshan paper, positioning protection paper, non-woven wallpaper and other products, and obtained 17 patents, among which sandpaper can replace imports and fill the domestic gap. "

"Hangzhou Fuyang Xinwo non-woven fabric Co., Ltd. was invested and founded by Hangzhou Xinxing Paper Co., Ltd. through years of dedicated research and development of high catalytic activity nano carbon based materials and utilization technology, the company combines papermaking principles with non-woven fabric production process, adds wood pulp to the non-woven fabric production process to replace traditional chemical materials, and creatively develops a variety of non-woven fabric products for daily use, medical and industrial use, which not only reduces production costs, In a certain range, its formability is 40% higher than that of traditional ABS alloy, reducing environmental pollution. In the first half of 2017, the new products of Hangzhou Fuyang Xinwo non-woven fabric Co., Ltd. attracted widespread attention in the industry as soon as they were launched. At present, the company's production orders are full, and customers are required to pay in full before arranging production. "

on November 2, 2018, the court ruled that Hangzhou Fuyang Xinxing Paper Co., Ltd., Hangzhou Xinxing Paper Co., Ltd. and Hangzhou Xinwo non-woven Co., Ltd. (hereinafter referred to as "Xinxing company and affiliated companies") were merged into bankruptcy liquidation, and appointed the administrator of Hangzhou Fuyang Xinxing Paper Co., Ltd. (Zhejiang Jindao law firm) as the administrator of the merged bankruptcy liquidation. It is found that: according to the verification of the manager, as of June 22, 2020, the total assets of emerging companies and associated companies were yuan; The administrator accepted 183 claims declarations, with a declaration amount of 06 yuan, 181 claims have been determined and confirmed by the court, with an amount of 22 yuan, 1 creditor's right that has not been determined and confirmed, with an amount of yuan; There are also 135 employee claims, with the amount of claims being 18 yuan. To sum up, the administrator filed an application with the court, claiming that the net assets of the emerging company and its associated companies were negative, and that they were seriously insolvent and could not repay their due debts, and requested the court to declare the emerging company and its associated companies bankrupt. The court believes that if an enterprise as a legal person cannot pay off its due debts and its assets are not sufficient to pay off all its debts, it shall clear its debts in accordance with the provisions of the enterprise bankruptcy law. According to the assets and liabilities identified by the manager, the manager applies to the court to declare the bankruptcy of the emerging company and its affiliated companies, which complies with the provisions of the law and should be allowed. Accordingly, in accordance with the provisions of paragraph 1 of Article 2 and article 107 of the enterprise bankruptcy law of the people's Republic of China, the court ruled to declare Hangzhou Fuyang Xinxing Paper Co., Ltd., Hangzhou Xinxing Paper Co., Ltd. and Hangzhou Xinwo non-woven fabric Co., Ltd. bankrupt on June 24, 2020