Media reports

Media reports, the exact message said, commissioned by the Dalian Shide, a well-known law firm responsible for the business sector of corporate bankruptcies, has quietly started Shide bankruptcy preparation program and began to prepare the relevant instrument. The partner is not revealed to the media specific programs, nor what assets will enter the program.




Reported that the National Development Bank Dalian Branch, an executive said, the central bank's credit system is not abnormal Shide debt. Another joint-stock bank executives said in March, Bank of Success nearly 200 million yuan loan once displayed as bad, but a few days later and return to normal. The industry is quite concerned about the transaction.




The report said part of the creditor banks were informed of the matter by surprise. Bank executives interviewed said, "Success System" organizational structure is very complex, relatively high-quality assets have been stripped from the group, group or liabilities is very high, and should bear the debt may be a lot higher than appropriate way to the government to restructure, in consultation with the creditor banks, instead of their own insolvency proceedings.




According to incomplete statistics, there are at least 38 banking institutions and the "Success System" enterprises have business dealings, in addition to the the Shide Department stronghold of the Northeast, Sichuan, Ningxia, Guangdong, Henan, Jiangxi and other financial institutions are also involved. Local bank executives quoted loan card data after a period of time that, interbank loans on the "Success System" no less than seven billion yuan, not including some of the equity relationships hidden deep enterprise. Another bank executives told the media that "at least $ 80 billion