Yinyi’s Investor Fails to Wire Required Funds for Restructuring

Yinyi Co.’s investor failed to transfer the full amount of funds as set out in the restructuring plan, according to a Tuesday company statement filed to Shenzhen Stock Exchange.

• As of the deadline of Dec. 31, the investor had wired 666m yuan to a bank account designated by Yinyi’s restructuring administrator, but failed to transfer the remaining 2.534b yuan, says the filing
• Chinese local court may declare bankruptcy liquidation if the restructuring arrangement cannot be executed: filing
• NOTE: A Chinese local court signed off Yinyi Co.’s debt-restructuring plan in December
• NOTE: The auto-parts maker last year missed ...