Following the approval of Xinhua Trust's application for bankruptcy, the China Banking and Insurance Regulatory Commission announced on the evening of Friday (July 15) that principles agreed that Yi'an Property Insurance Co., Ltd. entered the bankruptcy reorganization procedure.
According to the surging news report, the CBRC issued a approval of the bankruptcy and reorganization of Yi'an Property Insurance Co., Ltd., and Yi'an Property & Casualty Insurance Company should strictly conduct follow -up work in accordance with relevant laws and regulations.In case of major situations, report to the CBRC in a timely manner.The date of the above approval is June 29, 2022.
The bankruptcy liquidation is a special debt repayment procedure stipulated by the Chinese Enterprise Bankruptcy Law.When corporate legal persons cannot claim the debt due, and assets are not enough to pay all debts or lack the ability to clear their claims, creditors or debtors may submit bankruptcy applications to the people's court.After the court accepted, the debtor's enterprise entered a special state. The court handed the designated manager to the management of the debt enterprise to the manager to manage it, and repaid the debtor's property in accordance with the law.
According to the official website profile, Yi'an Property & Casualty Insurance is one of the four professional Internet insurance companies established by the country's "Internet+" strategic wave and approved by the Insurance Regulatory Commission., Registered capital of 1 billion yuan (RMB, about S $ 200 million), the registered place is Shenzhen.
The China Banking and Insurance Regulatory Commission issued an announcement on July 6 this year, and officially agreed to enter the bankruptcy procedure by Xinhua Trust in accordance with the law.Founded in 1979, Xinhua Trust is one of the earliest trust companies in China.In October 2001, Xinhua Trust became one of the first batch of five households who approved the approval of the People's Bank of China and were approved by the People's Bank of China to re -register and obtain a trust company permit of the trust legal person agency.
