Shanghai Gongniu Company Enters Bankruptcy Proceedings
- lyjstc9
- Apr 15
- 2 min read
The Chinese Court adjudicated to accept the bankruptcy liquidation application filed by Cixi Gongniu Electric Appliance Co., Ltd. against Shanghai Gongniu Hongye Trading Co., Ltd. on February 28, 2025.
In accordance with Article 13 of the Enterprise Bankruptcy Law of the People’s Republic of China and Article 27 of the Supreme People's Court Provisions on the Designation of Administrators in Enterprise Bankruptcy Cases, this Court has designated a law firm as the administrator of Shanghai Gongniu Hongye Trading Co., Ltd. through the randomized selection mechanism administered by the Shanghai High People's Court.
Creditors of Shanghai Gongniu Hongye Trading Co., Ltd. shall declare their claims to the administrator prior to May 12, 2025. Creditors failing to declare claims within this period may supplement their declarations before the final distribution of bankruptcy assets; however, no supplementary distributions shall be made for prior completed allocations. The costs of reviewing supplementary claims shall be borne by the declarants. Failure to declare claims shall result in forfeiture of procedural rights under the Enterprise Bankruptcy Law. Debtors or asset holders of Shanghai Gongniu Hongye Trading Co., Ltd. shall discharge obligations or deliver assets to the administrator.
The First Creditors’ Meeting of Shanghai Gongniu Hongye Trading Co., Ltd. shall be convened at 14:00 on May 20, 2025,the Third Intermediate People’s Court of Shanghai Municipality. The meeting shall be conducted via online video conference. Creditors objecting to this format shall submit written objections with justifications to the administrator.
Documentation Requirements for Creditors’ Meeting Attendance:
1. Legal entities or organizations: Valid business license, identity certificate of legal representative/principal (with official seal), and notarized power of attorney (original required if represented by agents);
2. Natural persons: Government-issued identification documents and notarized power of attorney (original required if represented by agents);
3. Legal representatives/agents: Practicing certificates (for attorneys) and official accreditation documents from affiliated institutions.
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