Debt, Another Tire Enterprise Asset Was Frozen By Many Banks

- Apr 19, 2019-

Recently, Shandong Dongying Court issued an enforcement ruling, announcing the freezing of multiple equity and other investment interests of Shandong Yongyi Rubber Co., Ltd.

It is understood that on June 4, 20, China Minsheng Bank Co., Ltd. Jinan Branch issued a notice to transfer the creditor's rights of Yongyi Rubber Co., Ltd., before Shandong Yongyi Rubber Co., Ltd. has been frozen. Shandong Xiyongyi Rubber Co., Ltd. has repeatedly mobilized mortgages. The most recent one was December 2018, and the amount of secured claims was 33 million yuan.

Auction bidding object: Yongyi Rubber owes a total of more than 20 million yuan of credits (including the principal of 19,800,000.00 yuan, the interest rate of 234,761.49 yuan as of February 21, 2019 and the 5,000.00 yuan of advance payment).

Shandong Xiyongyi Rubber Co., Ltd. has repeatedly mortgaged real estate, and the mortgage holders include Shanghai Pudong Development Bank, China CITIC Bank, Industrial and Commercial Bank of China and many other banks.

At the same time, Yongyi Rubber has had too many legal proceedings before, and most of the plaintiffs are mostly banks, which shows how nervous the Yongyi Rubber Capital Chain is.

Shandong Xishui Yongyi Rubber Co., Ltd. was established in 2002. The company mainly produces semi-steel radial tire vulcanization capsules, all-steel radial tire vulcanization capsules, engineering tire vulcanization capsules, bias tire vulcanization capsules, motorcycle tire vulcanization capsules, air spring vulcanization. More than 1,100 specifications of capsules, molded reverse capsules. The company has advanced production line of mixing center, more than 100 injection and molding tire curing machines, with an annual production capacity of 1 million pieces.

Since 2018, bankruptcy and liquidation, creditor transfer, equipment auction has become the final outcome of many tire dealers and tire factories, but the huge amount of arrears, the auction alone is simply a drop in the bucket. Many companies have carried heavy debts from the beginning and mortgaged their assets to banks. The capital chain is all dependent on loans. Once it breaks, it will collapse immediately. Many tire companies and large tire dealers are banks and not themselves. of.