Recently, the Hangzhou City Court issued a civil ruling. A local rubber company has been ordered to enter the bankruptcy liquidation process because it is unable to pay off its debts and is carrying out 13 executed cases.
"China Rubber" learned that the company that will be liquidated is Hangzhou Kaineng Rubber Co., Ltd., which was established in January 2010. This time it was appealed to the court by Hangzhou Fuyang SME Guarantee Co., Ltd., which called the company He has defaulted on his loan of more than 13 million yuan.
The court said that Kaixin Rubber has entered into the enforcement procedure in 13 cases, with a total debt of more than 38 million yuan. The company has obviously lacked the ability to pay off the loan, so it agreed to bankruptcy liquidation.
The insider said that the company's main business products are EPDM reclaimed rubber, automobile water pipes and sealing strips. Due to problems in operation, many parties have been collecting debts. The court's multiple executions have not traced the debts available for settlement. Deposits, etc.