Sinovideo China debt liquidation results have disappointed with bank creditors

Polaris solar PV net news: at this stage, China poly silicon and wafer maker LDK Solar (LDK Solar) over its main subsidiary was going through bankruptcy and reorganization. The repayment proposal in the company was twice rejected by creditors, a court in China in October this year were sent to sinovideo enforcement. Final results showed that LDK key creditors may only get very little funding. This situation may cause the future in the face of China’s banks more cautious about loans for PV applications. At present, sinovideo proposed repayment plans, creditors have to face very low repayment rate, far below the 2013 Suntech (Suntech) and 2014 Suri (Chaori) level when the bankruptcy reorganization.


Sinovideo China debt liquidation results have disappointed with bank creditors and return

Creditors are likely to shrink company valuation is particularly worrying. Compared to the insolvency administrator to a preliminary estimate, which are undergoing bankruptcy reorganization, company valuations have shrunk to 36%.

Because of claims the two sides fail to reach accord, a court in October this year, China issued enforcement to sinovideo book, this also means that the company’s final repayment plans will begin to take effect.

Current situation, despite the ongoing bankruptcy reorganization, LDK has no plans from the Chinese “exceeds” PV market withdrawal of part of photovoltaic capacity.

Here are a few groups of data:

They’re 6 billion dollars

LDK group three restructuring subsidiary debt, creditors of the $ 4 billion for the 12 Chinese banks and their branch offices

They’re 1.1 billion dollars

Insolvency given in the most recent valuation of the asset price, compared to the first preliminary assessment of lost 36%

6.62%

Court enforcement of sending books, Jiangxi saiweigaoke repayment rates that are necessary.

Original title: sinovideo China debt liquidation results have disappointed with bank creditors and return

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