Zhongzhi Enterprise Group's Bankruptcy and Its Complex Affiliations

Zhongzhi Enterprise Group is undergoing bankruptcy proceedings with a Beijing court. The firm's bankruptcy administrator highlighted its 'complex affiliations' with 247 other firms, leading to an application for substantial consolidation and liquidation of Zhongzhi and its affiliates.

China's Zhongzhi Enterprise Group: * BANKRUPTCY ADMINISTRATOR SAYS FIRM HAS 'COMPLEX AFFILIATIONS' WITH OTHER 247 FIRMS

* BANKRUPTCY ADMINISTRATOR SUBMITTED AN APPLICATION TO A BEIJING COURT FOR SUBSTANTIAL CONSOLIDATION AND BANKRUPTCY LIQUIDATION OF ZHONGZHI AND 247 AFFILIATED FIRMS Source text