Danish Low-cost Airline Company applied for Bankruptcy; Thousands of Passengers are stranded in the airport
On Oct.29, one Danish low-cost airline company owned by Iceland Company, Sterling Airlines filed for bankruptcy because of high pressure of financial crisis, which caused thousands of passengers to strand in the airport.
California Court announced the Bankruptcy of Zhongxing Automobile in the United States
One of the bankruptcy court judge in California carried out the bankruptcy protection between China America Cooperative Automotive Inc. and its subsidiary ZX Auto North America.
U.S. Brands are close to bankrupt; Chinese Enterprise Merge them with low prices
After the financial crisis breaking, even AIG was reported to have instable finance, while many small and medium companies have been involved in financial crisis as difficult financing. Therefore, many Chinese enterprises took the opportunity to carry out mergers and acquisitions.
World Famous Management Company claimed to auto industry would encounter popular wave of bankruptcy
World well-known international management consulting firm Roland Berger recently released report, through the analysis on financial performance indicators (from 2001 to 2007) from 400 global auto manufacturers, in the past one year, world automotive manufacturers are facing increasing pressure, many of the poor performance of the car manufacturers will be devastated. Therefore, the merger and bankruptcy of companies will occur frequently.
5 Bankrupt Enterprises in Taiyuan will auction their Properties
Creditors of five state-owned enterprises: Shanxi Radio factory, Taiyuan Standard Parts Manufacturing Co., Ltd., Taiyuan First Woolen Factory, Taiyuan Bulb Factory and Taiyuan Local Building Material Plant, has passed “three programs”. The actions from bankrupt enterprises establish a foundation for property auction and workers resettlement. After these 5 enterprises claiming to bankrupt and repay the debt, there are still 3 state-owned enterprises proceeding in bankruptcy procedure in accordance with the law.
Hainan closes bankrupt restructuring state-owned enterprises
A few days ago, the Office of Labor and Social Security, the provincial financial department, the provincial SASAC developed a joint program. Until the end of December 2008, Hainan will close bankrupt state-owned enterprises, while the retirees will be brought into the basic Medical insurance coverage.
Image for 30 years: First bankruptcy of state-owned enterprise
In August 3, 1986, Shenyang Explosion-proof Equipment Factory claimed to bankrupt, this was the first state-owned enterprise which officially declared to bankrupt. However, it also marked the beginning of the gradual deepening reform in state-owned enterprises.
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