Dragged down by Evergrande, the 70 year old construction enterprise was applied for bankruptcy and reorganization


At present, there are 50 groups (15000 + people).

At present, it is no exaggeration to use litigation siege to describe the current Soviet Chinese construction.

31.

In 2020, the total construction output value will be 78.96 billion yuan.

(hereinafter referred to as “Suzhong construction”) )Filed for bankruptcy reorganization.

On June 3, 2021, relevant principals of Suzhou China Construction also attended the Evergrande group’s annual strategic partner exchange meeting.

The lawsuit involved 102 billion yuan, which was prosecuted by China construction system Up to August 2021, Evergrande cases were under the centralized jurisdiction of Guangzhou intermediate people’s court.

Evergrande reminds that shareholders and other investors of the company need to act prudently when buying and selling the company’s shares.

As far as the current situation is concerned, since Evergrande has not entered the bankruptcy proceedings, theoretically, the creditor’s right to sue creditors first is expected to be confirmed and enforced before other creditors.

It is one of the main forces of the well-known “Nantong Iron Army” in China, and has won many awards and honorary titles, such as “National May Day Labor Award”, “Chuang Luban Award project outstanding contribution award”; It is a “AAA credit enterprise in Jiangsu Province”.

Tsinghua (Peking University) asset management (venture capital) group is composed of Tsinghua and Peking University Alumni engaged in capital management industry.

There have been 28 Executees, with a total amount of 39.6044 million yuan.

was established in February 1949, established a standardized joint-stock company in December 1998, and restructured into a private enterprise with independent operation and self responsibility for its profits and losses in June 2005.

It has strategic partnership with secondary companies such as China Construction Third Engineering Bureau, China Construction Fifth Engineering Bureau and China Construction Fourth Engineering Bureau.

For construction contract disputes, the construction enterprise must file a lawsuit within 18 months from the due date of the project payment, so as to ensure that the priority right to compensation of the project price can be confirmed by the court.

The fixed income music department focuses on the fixed income field (including bonds, ABS, REITs, etc.) to promote alumni exchanges, pool alumni strength and lead social development.

Market voices said that Suzhong construction is one of the enterprises most affected by Evergrande thunderstorms.

Evergrande announcement: the risk resolution committee is mobilizing resources and trying to resolve risks.

Source – non performing assets headline comprehensive Sina Leju, legal speculation, December 22, Jiangsu Suzhong Construction Group Co., Ltd.

Although there is now centralized jurisdiction, the possibility of obtaining repayment in advance still exists because the debtors are different.

Two Hole Anchor

It has successively undertaken the construction of Wuxi Hailan wealth center, Xinjiang TBEA technology R & D center, British Pavilion, Taiwan Pavilion, Ireland Pavilion, Inner Mongolia Museum, Air China headquarters building in Beijing, Nanjing central international and other projects.

The official website of the lawsuit besieged city shows that Jiangsu Suzhong Construction Group Co., Ltd.

As of December 13, 2021, Guangzhou intermediate people’s court had accepted 367 cases with a total litigation amount of 102 billion yuan.

CSCEC has very intensive business contacts with Evergrande group, and Evergrande loves CSCEC in the selection of general contractors.

The enterprises that had close business contacts with Evergrande were dragged down and injured everywhere.

The aftermath of Evergrande’s thunder spread throughout the second half of the year.

It is understood that Suzhong construction is the contractor of many key projects of Evergrande, including the famous “Evergrande city”.

Its members cover the middle and senior levels of many financial institutions and investment institutions around the world.

Tsinghua fixed income music department is composed of Tsinghua alumni who have been engaged in the fixed income field for more than 5 years and regularly conducts activities in Guangzhou, Shenzhen, Beijing and Shanghai.

On the evening of December 22, China Evergrande announced that the risk resolution Committee of China Evergrande group is mobilizing extensive resources and will actively maintain communication with creditors to resolve group risks and safeguard the legitimate rights and interests of all parties.

On December 22, Suzhong construction added a new bankruptcy reorganization information.

It is the most widely covered alumni group.

With the confirmation of the priority right to compensation of the construction project price, the construction enterprise is expected to safely recover the principal of the project payment.

Among them, there were 151 disputes over construction contracts, with the target amount of 26.7 billion yuan; 82 disputes over financial loan contracts, with the target amount of 33.2 billion yuan; 19 private lending disputes, with the target of 4.3 billion yuan; 14 cases of sales contract disputes, with the target of 2.4 billion yuan; There were 13 cases of bill recourse and payment type, with the target of 1.3 billion yuan.

The applicant was Xianxian Hualu construction equipment leasing Station and the respondent was Jiangsu Suzhong Construction Group Co., Ltd, Case No (2021) Su 0621 Po Shen No.

In 2021, the company ranked 323 among China’s top 500 enterprises and 142 among China’s top 500 private enterprises.

In the construction dispute cases, CSCEC system, as the plaintiff, sued 61 cases, with a target of 10 billion yuan, which is undoubtedly a large prosecution.

CSCEC has many receivables of Evergrande that cannot be cashed.

In fact, compared with Evergrande’s loan disputes, financial institutions generally have collateral when issuing loans, risk control measures are relatively perfect, and the risk of construction enterprises is relatively higher.

In December alone, Suzhong construction added 14 Executees’ information.

If we want to ensure the security of creditor’s rights, prosecution is a more secure option.

So far, Suzhong construction has been involved in 4109 judicial cases, accounting for 72.26% of which are defendants.

A construction enterprise with a 72 year development history, founded in 1949, has been dragged to the edge of “bankruptcy”.

Welcome to Tsinghua alumni fixed income gathering department.

After the sudden change of Evergrande, the Evergrande business ticket held by Suzhong construction exceeded 10 billion yuan, making it difficult to cash it.

At present, a series of special activities such as ABS and REITs have been carried out..

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